Bloomberg News

Switzerland, Germany Reach Revised Tax Deal, Tages-Anzeiger Says

March 29, 2012

Switzerland and Germany have reached an agreement on the treatment of undeclared assets, Tages-Anzeiger said, citing people close to the negotiations.

To legalize undeclared assets, they will be taxed at a rate of as much as 41 percent, up from the previously discussed 18 to 34 percent, according to the most recent version of the agreement, the Zurich-based newspaper said. The withholding tax for future income will be raised to 29 percent from 26 percent.

The final numbers may still change somewhat, the newspaper said.

To contact the reporter on this story: Carolyn Bandel in Zurich at cbandel@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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