Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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                            <div style="text-align: justify">&mdash;New York Times News Service</div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify">Switzerland has agreed to a revised tax deal with Germany, with Switzerland to pay billions of dollars on funds hidden in its banks by German tax dodgers. The deal was the latest step in an international charm offensive that is meant to salvage at least some of Switzerland's famous banking secrecy.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The accord, which was tougher to reach after a deal in September was criticised by German opposition parties and European Commission officials in Brussels, provides for the assessment of a one-time charge of 21 to 41 per cent of the value of secret German accounts, higher than the original agreement of 19 to 34 per cent. Swiss banks that are home to such accounts would make payments to the German government.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Anyone inheriting such an account will have to either pay a 50 per cent tax or disclose its existence to the German authorities. And in the future, taxes on investment income will be withheld at the standard German rate.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">From the Swiss point of view of maintaining banking secrecy, account holders' names will not be revealed to Berlin, and the Swiss authorities will be responsible for ensuring that taxes are paid on behalf of the account holder, who can remain anonymous if desired.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The German Finance Ministry estimated that a one-time payment of back taxes could bring it a windfall of up to &euro;10 billion ($13 billion) with annual payments of &euro;750 million ($980 million) a year thereafter.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Still, ratification of the deal by the German Parliament is not assured. Members of the Social Democrats and the Greens, opposition parties that together have sufficient votes in the Upper House to block it, have argued that the measures are too lenient on tax cheats.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Switzerland signed a similar deal with Britain on March 20. Seeking to overcome the country's reputation as the biggest offshore tax haven in the world, Switzerland has in recent years moved against money laundering and reached more than 40 deals providing for the exchange of tax data with other governments. </div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify"><br /></div>                                                           
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    <br><a href="http://www.thehindu.com/todays-paper/tp-international/article3289115.ece" class="re" target="_blank">The Hindu, 7 April, 2012, http://www.thehindu.com/todays-paper/tp-international/article3289115.ece</a><div class="clear"></div>
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                            <div style="text-align: justify">&mdash;New York Times News Service</div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify">Switzerland has agreed to a revised tax deal with Germany, with Switzerland to pay billions of dollars on funds hidden in its banks by German tax dodgers. The deal was the latest step in an international charm offensive that is meant to salvage at least some of Switzerland's famous banking secrecy.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The accord, which was tougher to reach after a deal in September was criticised by German opposition parties and European Commission officials in Brussels, provides for the assessment of a one-time charge of 21 to 41 per cent of the value of secret German accounts, higher than the original agreement of 19 to 34 per cent. Swiss banks that are home to such accounts would make payments to the German government.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Anyone inheriting such an account will have to either pay a 50 per cent tax or disclose its existence to the German authorities. And in the future, taxes on investment income will be withheld at the standard German rate.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">From the Swiss point of view of maintaining banking secrecy, account holders' names will not be revealed to Berlin, and the Swiss authorities will be responsible for ensuring that taxes are paid on behalf of the account holder, who can remain anonymous if desired.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The German Finance Ministry estimated that a one-time payment of back taxes could bring it a windfall of up to &euro;10 billion ($13 billion) with annual payments of &euro;750 million ($980 million) a year thereafter.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Still, ratification of the deal by the German Parliament is not assured. Members of the Social Democrats and the Greens, opposition parties that together have sufficient votes in the Upper House to block it, have argued that the measures are too lenient on tax cheats.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Switzerland signed a similar deal with Britain on March 20. Seeking to overcome the country's reputation as the biggest offshore tax haven in the world, Switzerland has in recent years moved against money laundering and reached more than 40 deals providing for the exchange of tax data with other governments. </div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify"><br /></div>                                                           
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    <br><a href="http://www.thehindu.com/todays-paper/tp-international/article3289115.ece" class="re" target="_blank">The Hindu, 7 April, 2012, http://www.thehindu.com/todays-paper/tp-international/article3289115.ece</a><div class="clear"></div>
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    <h1 class="cat-box-title">Germany strikes deal to tax secret Swiss accounts by David Jolly</h1>
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                            <div style="text-align: justify">&mdash;New York Times News Service</div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify">Switzerland has agreed to a revised tax deal with Germany, with Switzerland to pay billions of dollars on funds hidden in its banks by German tax dodgers. The deal was the latest step in an international charm offensive that is meant to salvage at least some of Switzerland's famous banking secrecy.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The accord, which was tougher to reach after a deal in September was criticised by German opposition parties and European Commission officials in Brussels, provides for the assessment of a one-time charge of 21 to 41 per cent of the value of secret German accounts, higher than the original agreement of 19 to 34 per cent. Swiss banks that are home to such accounts would make payments to the German government.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Anyone inheriting such an account will have to either pay a 50 per cent tax or disclose its existence to the German authorities. And in the future, taxes on investment income will be withheld at the standard German rate.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">From the Swiss point of view of maintaining banking secrecy, account holders' names will not be revealed to Berlin, and the Swiss authorities will be responsible for ensuring that taxes are paid on behalf of the account holder, who can remain anonymous if desired.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The German Finance Ministry estimated that a one-time payment of back taxes could bring it a windfall of up to &euro;10 billion ($13 billion) with annual payments of &euro;750 million ($980 million) a year thereafter.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Still, ratification of the deal by the German Parliament is not assured. Members of the Social Democrats and the Greens, opposition parties that together have sufficient votes in the Upper House to block it, have argued that the measures are too lenient on tax cheats.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Switzerland signed a similar deal with Britain on March 20. Seeking to overcome the country's reputation as the biggest offshore tax haven in the world, Switzerland has in recent years moved against money laundering and reached more than 40 deals providing for the exchange of tax data with other governments. </div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify"><br /></div>                                                           
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    <br><a href="http://www.thehindu.com/todays-paper/tp-international/article3289115.ece" class="re" target="_blank">The Hindu, 7 April, 2012, http://www.thehindu.com/todays-paper/tp-international/article3289115.ece</a><div class="clear"></div>
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Home हिन्दी

Germany strikes deal to tax secret Swiss accounts by David Jolly

Published on Apr 8, 2012   Modified on Apr 8, 2012

—New York Times News Service   Switzerland has agreed to a revised tax deal with Germany, with Switzerland to pay billions of dollars on funds hidden in its banks by German tax dodgers. The deal was the latest step in an international charm offensive that is meant to salvage at least some of Switzerland's famous banking secrecy. The accord, which was tougher to reach after a deal in September was criticised by German opposition parties and European Commission officials in Brussels, provides for the assessment of a one-time charge of 21 to 41 per cent of the value of secret German accounts, higher than the original agreement of 19 to 34 per cent. Swiss banks that are home to such accounts would make payments to the German government. Anyone inheriting such an account will have to either pay a 50 per cent tax or disclose its existence to the German authorities. And in the future, taxes on investment income will be withheld at the standard German rate. From the Swiss point of view of maintaining banking secrecy, account holders' names will not be revealed to Berlin, and the Swiss authorities will be responsible for ensuring that taxes are paid on behalf of the account holder, who can remain anonymous if desired. The German Finance Ministry estimated that a one-time payment of back taxes could bring it a windfall of up to €10 billion ($13 billion) with annual payments of €750 million ($980 million) a year thereafter. Still, ratification of the deal by the German Parliament is not assured. Members of the Social Democrats and the Greens, opposition parties that together have sufficient votes in the Upper House to block it, have argued that the measures are too lenient on tax cheats. Switzerland signed a similar deal with Britain on March 20. Seeking to overcome the country's reputation as the biggest offshore tax haven in the world, Switzerland has in recent years moved against money laundering and reached more than 40 deals providing for the exchange of tax data with other governments.

The Hindu, 7 April, 2012, http://www.thehindu.com/todays-paper/tp-international/article3289115.ece

Tagged with: black money

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