Bank secrecy in Europe is gone — the Commissioner

Any open in Europe, the account immediately becomes known to the tax authorities of the European Union, so we can talk about the dissolution of the concept of «banking secrecy». In an interview with TV channel France 2 on 12 February, said the European Commissioner for economic and financial Affairs Pierre Moscovici.

«Bank secrecy in Europe is over. If anyone has an account in Switzerland, there is an automatic exchange of information, that is, we know,» said the Commissioner.

He said that the agreement on information exchange signed, in addition to Switzerland, other countries outside the EU: Liechtenstein, San Marino, Andorra and Monaco.

According to the decision of the Council of Ministers of economy and Finance of European Union countries as of October 14, 2014, the tax authorities of the member States shall from 2017 to automatically exchange information on interest, dividends, proceeds from sale of financial assets, and balances in Bank accounts.

Bank secrecy in Europe is gone — the Commissioner 14.02.2018

Февраль 14th, 2018 by
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