Wednesday, 12 June 2013 17:30
Posted by Muhammad Iqbal
GENEVA: The European Union has asked Switzerland to open talks on updating a 2005 deal on taxing the savings of EU citizens held in the banks in the Alpine nation, the Swiss finance ministry said Wednesday.Finance Minister Eveline Widmer-Schlumpf received a written request from Brussels, the ministry said, ahead of a visit to Switzerland Monday by EU Taxation Commissioner Algirdas Semeta.With the financial crisis having thrown the spotlight squarely on the issue of tax evasion, EU nations have been seeking to extend the net of their revenue services.On May 14 the bloc's 27 member states gave its executive body, the European Commission, a mandate to negotiate with non-EU Switzerland and other countries in an effort to expand the remit of current deals to tax the interest earned on savings.The EU has said its goal is to have third countries adopt the same kind of automatic exchange of customer information as ...
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GENEVA: The European Union has asked Switzerland to open talks on updating a 2005 deal on taxing the savings of EU citizens held in the banks in the Alpine nation, the Swiss finance ministry said Wednesday.Finance Minister Eveline Widmer-Schlumpf received a written request from Brussels, the ministry said, ahead of a visit to Switzerland Monday by EU Taxation Commissioner Algirdas Semeta.With the financial crisis having thrown the spotlight squarely on the issue of tax evasion, EU nations have been seeking to extend the net of their revenue services.On May 14 the bloc's 27 member states gave its executive body, the European Commission, a mandate to negotiate with non-EU Switzerland and other countries in an effort to expand the remit of current deals to tax the interest earned on savings.The EU has said its goal is to have third countries adopt the same kind of automatic exchange of customer information as ...
PARIS: France Telecom chief executive Stephane Richard was hospitalised for fatigue on Wednesday after two days of questioning by police in a probe of a 2008 arbitration case that resulted in a large pay-out to businessman Bernard Tapie.Richard was a top aide to former Finance Minister Christine Lagarde in 2008 when the French government awarded Tapie 285 million euros ($373 million) in damages in his long battle with now-defunct bank Credit Lyonnais.Tapie, a supporter of ...
KARLSRUHE: European Central Bank board member Joerg Asmussen warned on Wednesday of discussions on changing the EU Treaty and its central bank's mandate of securing price stability, saying the current set-up was "good"."We (in Germany) have a tendency towards rule-bound systems," Asmussen told Germany's top court, after its president asked whether the ECB could work with or whether it would be too limited by a legal definition of what is allowed under its bond buy ...
BRUSSELS: The European Union's chief justice official has written to the US attorney general demanding an explanation for the collection of foreign nationals' data following disclosures about the "PRISM" spy programme.In a letter seen by Reuters, the European commissioner for justice and fundamental rights, Viviane Reding, said she had serious concerns about the possibility that US authorities had accessed European citizens' data on a vast scale.US officials have confirmed the existence of a secret programme ...
MOSCOW: Russian parliament on Tuesday passed two controversial bills that impose jail terms for people promoting homosexual "propaganda" to minors and those who offend religious believers amid fears the measures will be used to persecute the opposition to Vladimir Putin.Ahead of the vote, gay activists staged a kissing protest outside the parliament but they were outnumbered by several hundred supporters of the bill, some carrying religious icons.A police spokesman said around 20 were detained in ...
MOSCOW: Billionaire American industrialist Leonard Blavatnik has led a $130 million round of financing for Russian online fashion retailer Lamoda, the company said on Tuesday.Russia's e-commerce industry, dominated by local players such as Ozon, has boomed in recent years amid rapidly improving access to the internet, and has already attracted several large investments.The latest cash-for-equity deal gives Blavatnik's Access Industries as well as Summit Partners and Tengelmann an undisclosed direct stake in Lamoda, which sells ...
ISTANBUL: Dozens of Turkish riot police on Tuesday moved into Istanbul's Taksim Square, firing tear gas and water cannon into the heart of the anti-government protests which have spread across the country over 12 days.The police attacked the barricades erected by protesters on streets leading into the square where hundreds of demonstrators have been camping out, according to an AFP photographer.Copyright AFP (Agence France-Presse), 2013 ...
