Swiss to tax Belgian account holders

The Swiss authorities say that they are prepared to impose 34% tax on funds that Belgians have on bank accounts in their country. The money raised from the tax would be forwarded on to the Belgian exchequer. In exchange for this, the Swiss authorities are asking for their bank secrecy rules to remain in force.

Belgians currently have more than 30 billion Euro deposited on Swiss bank accounts.

Switzerland is prepared to impose 34% tax on money deposited by Belgians on Swiss bank accounts.

The Swiss would transfer the funds raised from the tax, around 10 billion Euro, to the Belgian exchequer. However, the Swiss are demanding the right to retain their bank secrecy rules in exchange for this.

Belgium has still not decided whether or not to accept the Swiss proposals. However, the Foreign Minister Didier Reynders (Francophone liberal) is enthusiastic "Germany has already accepted the proposals, as have Greece, Austria and Great Britain. It’s only logical we should give the proposals serious consideration in times of austerity such as today.”