Legal

Now Spain Buys Disk With Swiss Account Details

Knud Noelle 25 June 2010

Now Spain Buys Disk With Swiss Account Details

Spain, following Germany and France, has bought a disk with data on clients with Swiss bank accounts, according to media reports.

It has been speculated that the disk may contain details of 3,000 tax evaders, potentially worth more than €6 billion ($7.35 billion), the Swiss daily Neue Züricher Zeitung reports, referring to Spanish papers.

In Spain, similarly to Switzerland, there exists a legal difference between tax evasion and tax fraud.

There has been no confirmation of this data acquisition, according to NZZ. But similar rumours proved true in the case of Germany and France, which have both decided to make the legally questionable move of buying data stolen from Swiss banks to prosecute tax evaders.

In the case of Germany, where different states, most recently Lower Saxony, bought data with support of the federal government, the acquisitions of the disks has led to waves of individuals reporting themselves to the tax authorities.

NZZ reports that according to a Spanish paper the country’s finance ministry has now asked 3,000 taxable individuals to correctly declare their assets. They have been offered the chance to report their undeclared assets without prosecution, but they will have to pay penalty taxes.

Spain apparently received the data from France.

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