Swiss Bankers back move to accept OECD tax offence standards

Swiss Bankers back move to accept OECD tax offence standards Basel, Switzerland - The Swiss Bankers Association said Friday that it supported Bern's decision to offer better international cooperation on tax offences.

"The SBA now expects an end to all improper international criticism of Switzerland and its legal system and also an end to threats to put Switzerland on a so-called 'black list'," the group said in a statement.

"The SBA expects the G20 to now turn its critical gaze away from non-members and focus on jurisdictions belonging to its own member states," it added.

Next month in London, the G20 the group of leading world economies - is set to meet, and tax havens were expected to be on the agenda.

There has been vocal criticism in Switzerland of the United States and Britian, which the Swiss say have unfairly targeted the Alpine nation while their own tax havens escaped scrutiny and calls for reform.

The bankers' group said it "welcomes today's offer by the Swiss government to negotiate with a view to extending administrative assistance to cover all tax offences."

However, clients should have the right to appeal any decision to transfer their data, it noted. (dpa)

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