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€3 billion Swiss tax dodge revealed
France has the names of 3,000 people with accounts worth €3 billion in illegal undeclared accounts in Switzerland
TAX dodgers have been given a warning that Switzerland is no longer a safe haven for their millions as Budget Minister Eric Woerth revealed France has the names of 3,000 people with illegal, undeclared accounts totalling €3 billion.
Mr Woerth said it was the first time they had had this type of information and they were sure that at least some of the money was being held in Switzerland to avoid tax.
He was delighted that they had managed to get “such precise information, with names, account numbers and the sums involved”.
The account-holders – who are with three Swiss banks – have been told to get their affairs in order by December 31 or they will face a full tax investigation.
Penalties for tax evasion are high – up to 50% of the amount transferred out of the country and Mr Woerth said it would be “better to go to the tax office themselves, to pay the levy and penalties, and it would go no further”.
He would not confirm how much money was involved in tax evasion but said that a figure of €50 billion had been suggested, although this also included other frauds such as evading VAT and social charges.
The revelation of the list of 3,000 names came just two days after an accord was signed between France and Switzerland allowing the exchange of information to help stamp out frauds.