Germany, the United Kingdom and Austria, are about to ratify the agreement signed with Switzerland to impose a one-time tax in all deposits of citizens with tax base in such country with accounts on Swiss banks. The deal provides that the Swiss authorities will deduct from all such accounts of citizens of the countries participating in the agreement 40%, which will be reimbursed to the governments of the respective countries correspondingly. Furthermore, Switzerland will tax dividends every year with 22% which will be also reimbursed to the countries, accordingly.
Such one time tax will be raised only from the accounts that they were not declared in the respective national authorities. Switzerland, is securing Swiss banks depositors that the names of the account holders will never be revealed to the national or other authorities while the remaining money (after the deduction of the 40%) will be legitimised and “clean” before any and all authorities. In this way, with the payment of a one-time 40% plus 22% per year tax on dividends, all money held by Germans, British and Austrians in Switzerland will be “washed,” regardless of origin (i.e. bribes, drugs, prostitution, etc.). Holders of the undeclared, will keep the balance (60%) and will be reinstated as honourable members of the western European society as they will benefit tax amnesty granted to all who will suffer the 40% hair-cut. Convenient, yes very, yet not cheap.
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