Brussels, 03/09/2012 (Agence Europe) - The Rubik-type tax deal between Greece and Switzerland to tax savings illegally held in Switzerland by Greek passport-holders will be finalised on Monday 3 September 2012 and signed by the two governments later this month. Greek Finance Minister Giorgios Mavraganis was in Berne on Sunday 2 September for the conclusion of the talks. Following in the wake of similar deals between Switzerland and Germany, the UK and Austria (see EUROPE 10450 and 10594), the Greek agreement will allow the Greek government to levy a tax of between 20% and 30% on Greek assets held in Switzerland, estimated to total around €20 billion (although it may well be much higher) in the form of savings held in Swiss bank accounts by Greek nationals and not declared on Greek tax returns. Greece would get between €4 billion and €6 billion in lost tax income, in return for which the holders of Swiss bank accounts would keep their details secret. They also have the option, of course, of declaring their bank accounts to the Greek tax authorities. Switzerland and Greece were in talks last year about a special one-off payment, but the talks were interrupted because of the breakdown of the Greek government and wrangling over forming a new one. The tax deal is the fourth such agreement between an EU member state and Switzerland. Switzerland is holding talks with other member states, including Italy, but the talks with Switzerland about EU savings tax rules are still in deadlock (see EUROPE 10666). (FG/transl.fl)