German plan for Swiss accounts

Athens will follow the German plan for taxing bank deposits in Switzerland, according to meetings that Deputy Finance Minister Giorgos Mavraganis had with Swiss government and credit sector officials on Sunday and Monday.

A top ministry official told Kathimerini that the meetings were conducted in a positive atmosphere. A Swiss government official in Bern confirmed Mavraganis?s meeting with Switzerland?s state secretary for international financial and tax matters, Michael Ambuehl, but refused to provide any details on the negotiations.

According to the German plan, also followed by Austria and the United Kingdom, Greek clients will be able to maintain their anonymity and pay a large amount of tax or to present data to the Greek tax authorities explaining how they have obtained their wealth and agree to an audit.

The Swiss-German deal provides for tax rates ranging from 21 to 41 percent. Although the amount of Greek deposits in Swiss banks is not known, estimates put it below 20 billion euros.