Swiss Bank Reaches German Tax Settlement

01/08/2017

•

Zurich Cantonal Bank, Switzerland’s largest cantonal bank, has reached an “amicable” agreement with the German authorities to settle a dispute relating to undeclared accounts held by German taxpayers.

In a brief statement released on December 27, the bank disclosed that a one-off payment of EUR5.7m (USD6m) will be made to the judicial authorities in Cologne “in connection with untaxed assets of German customers.”

According to the statement, the agreement has legal force in all German states.

The bank also said that the agreement covers “affected employees” of the bank.

Source: www.tax-news.com

Business Blog Categories

Business Blog Categories

[categories_dropdown_for_blog parent="130" blog="748" ]

By Country

[countries_list blog="748"]

Recent Posts

Read more

Other news

In brief, a Borrower will gain Financial Flexibilty through Loan Syndication. A syndicated loan, sometimes called a Club Deal, is a single loan provided by a group of lenders (the "syndicate"), usually organized by one or more lead banks called arrangers. The structure offers advantages to both sides of the deal.

It’s no secret: For years, many of online gaming affiliates in Germany have been operating in a gray area—or, in many cases, even illegally. Many websites, comparison portals, and social media accounts promote offshore casinos in German, targeting German-speaking players. The affiliates then receive commissions through foreign companies. In most cases, these payments are processed via payment providers, crypto wallets, or accounts abroad.

Lawyers and bankers in Switzerland are warning of a UK-style exodus of the wealthy ahead of a referendum on a 50% inheritance tax for the

do you have questions or need a consultation?

Get a quick consultation

Our highly experienced team of lawyers, tax advisers, finance advisors, and international tax experts advises clients on corporate and private tax planning and corporate finance matters. We aim to offer full-service support, including banking applications, business funding, and filing tax returns in various jurisdictions.