European Council

This means that the uk authorities will be able to send a request for administrative assistance, which would mean the customer's name, but not necessarily the name of the bank. " The number of requests will be limited, they must be "made in form", according to the Swiss. In this Agreement will not permit the commission of "selection of compromising materials." Italy vs. Switzerland tax treaty during the European Council for Economic and Financial Affairs in Brussels, Minister of Economy of Italy Giulio Tremonti said that he was opposed to bilateral agreements on exchange information on tax policy, which some countries – members of the European Union to discuss with Switzerland. The Council of Europe's Economic and Financial Affairs discussed the rules that will be registered in the eu Directive on Taxes on income from savings, in accordance with the standards for the exchange of tax information international Organization for Economic Cooperation and Development.

Such measures require the unanimous approval of all eu member states. Meanwhile, it was noted that some European Union countries, particularly Britain and Germany, have agreed to begin bilateral negotiations with Switzerland on the conclusion of agreements, which allowed parties to the taxation of assets that are owned by their residents in the Swiss accounts, but Switzerland will keep the measures of banking confidentiality. In particular, according to the Italian government, these agreement and the current eu Directive does not provide automatic exchange of information about customers of banks. This is the main reason why countries such as Luxembourg, Liechtenstein and Switzerland are in the black list "of tax havens, Italy, and why the conclusion of bilateral tax treaties between Italy and Switzerland, it is impossible. Tremonti for some time been concerned at the level of information and / or tax leniency between signatory countries of the Directive, and earlier this year has already warned of the possibility of a veto on all tax issues of the eu until it is received tentative explanation for the levying of taxes.

He stated that agreement being discussed with Switzerland, "openly contrary to the spirit" of existing eu regulation. The Minister said that Italy also can not agree with the fact that bilateral agreements violate the ec Directive. He noted that waiting for an explanation of action by the Council of Europe's Economic and Financial Affairs, and that "without the unanimous answer will not be achieved." At the same time there have been reports (in particular in the Swiss press), that in may soon be initiated on the signing of a bilateral tax treaty between Italy and Switzerland. This suggests that Tremoniti, on whose shoulders lie the negotiations on these issues should reconsider its position before being delivered any signatures.