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A wunch of Swiss bankers

June 26, 2009

By Tax Justice Network

The Tax Justice Network (TJN) is an international, non-aligned coalition of researchers and activists with a shared concern about the harmful impacts of tax avoidance, tax competition and tax havens. They write a daily blog at taxjustice.blogspot.com.

The interviewer leant forward and looked me in the eye.

According to the Swiss Banker’s Association” he said, “their members have no duty to collect taxes on behalf of other countries. What do you say about that?

Despite the hour (this was an early morning recording session), and the cameras and the bright lights in my eye, I had to fight hard to suppress a giggle. Where do these bankers get this nonsense from?

Well let’s turn this argument on its head” I started. “If Swiss bankers don’t want to collect withholding taxes from clients who are non-resident in Switzerland, they have a simple choice: sign up to the European Union’s automatic information exchange process and allow their European neighbours to collect the taxes due for themselves.

And anyway,” I added, getting more fired up at Swiss sophistry, “these bankers can’t moan about international pressures to tackle tax crime when they’re responsible for encouraging the crime in the first place. They can argue ’til the cows come home, but most reasonable people understand that banking secrecy encourages people to act in a certain way.

The interviewer sat back in his chair and grinned.

For years bankers and other privileged elites have used obfuscation and mendacious garbage to disguise their criminal activities. Under open challenge their deceitful arguments simply fall apart.

That’s a take“, said the producer.

Disclaimer: Unless specifically stated to be the views of the Task Force, the opinions expressed on this blog are solely the opinions of the individual blogger and are not necessarily those of the Task Force on Financial Integrity & Economic Development.

  • http://www.ghanapundit.blogspot.com Lord Adusei

    It is because the world has tolerated this nonsense for quite a long time that is why Swiss bankers association think they are above international and can act with impunity. Nobody is asking them to collect taxes for countries but they have a duty to ensure that their clients are law abiding citizens. The case gets more silly when you think about SBA involvement in third world corruption where third world leaders use Switzerland as vault for dirty money.

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