German tax offices may query Swiss bank accounts
Published: Thursday, Mar 28th 2024, 12:20
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Swiss banks can transfer information on accounts and custody accounts of German customers to the German tax authorities. This does not violate any fundamental rights and is justified to combat tax evasion, the Federal Fiscal Court ruled in a decision published on Thursday.
Taxpayers who felt that their right to informational self-determination had been violated by the transfer of account balances in a Swiss bank account had filed a lawsuit. The Cologne Fiscal Court and the BFH rejected this: the automatic exchange of information on financial accounts serves "to ensure tax honesty and prevent tax evasion".
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