Brussels, 17/04/2012 (Agence Europe) - At a press conference in Brussels on Tuesday 17 April, EU Taxation Commissioner Algirdas Semeta said that the revised tax deals between the United Kingdom and Switzerland and between Germany and Switzerland on the taxation of cash held in Swiss bank accounts by people registered in the UK and Germany fully respect European Union legislation. The commissioner's staff are still assessing a similar deal signed between Austria and Switzerland on Friday 13 April 2012 (see EUROPE 10594) to see whether it complies with EU rules.
Commenting on the impact of such deals on the current round of talks between the EU and Switzerland, the Commissioner repeated what he had said in a letter to EU27 finance ministers last month - namely that individual negotiations between member states and Switzerland are possible, but member states should refrain from holding talks or agreeing to deals with Switzerland or any other non-EU country on matters that are exclusively under the EU's power. The tax deals signed by the UK and Germany with Switzerland had to be adjusted in order to respect the EU's powers over tax concerns. The Commission has requested further information from Austria about its agreement with Switzerland and is continuing to examine the deal together with Austria.
The Commission alone will negotiate with Switzerland on matters that are exclusively the power of the European Union, to update the EU-Switzerland tax agreement in line with changes to the savings tax directive and other areas of the deal. To this end, the Commission needs a broad negotiating mandate, but some member states are unhappy about this. The commissioner hoped that the negotiations currently carried out behind the scenes can be made public at an upcoming ECOFIN Council meeting. (FG/transl.fl)