Should not be confused with the France and the Italy

The incumbent French of undeclared foreign account have more than 24 hours to know of the tax administration and negotiate the terms of the regulation of their holdings with the ad hoc implementation cell. Beyond that, they face higher penalties, including criminal. Budget Minister Eric Woerth stated on December 9 that 1,400 files had already been curled allowing tax to recover 500 million euros in taxes and penalties, on a total of "several billion euros" regularized assets. Bercy said that regularization applications are accelerated late in the year, despite the controversy over the conditions for obtaining of the famous "list of 3,000 names" tax evaders brandished by Eric Woerth, largely fueled by data provided by an ex-informaticien of HSBC Geneva. But if Swiss side, the concern was initially set, several experts believe today that the hopes of the French authorities are likely to be seriously disappointed.

"Punitive conditions".

Zurich and Geneva, many financial refuse to address the issue. "We do not comment on the movement of assets deposited with us", explains Martin Somogyi, the spokesman of the private Bank Julius Baer. However, other bankers willing to talk under cover of anonymity. And their opinion is no salt shortage. "Paris spoke of amnesty, but it is in no case of a cancellation of sentences to hackers, said an employee of one of the largest Swiss financial groups." Your Government did nothing to truly encourage its citizens to declare their income to the tax authorities. Should not be confused with the France and the Italy. ""Repented"tax evaders who was known to the regularisation implemented by Bercy cell must pay their due taxes (taxes and interest in respect of the years not prescribed). They can just negotiate penalties that are tiered according to their degree of "civic tax" (between 0 and 80 of the total amount of interest). The Italy was much more permissive in imposing property and capital placed abroad by its citizens without the knowledge of the tax on only 5. This amnesty allowed repatriation or regularization of EUR 95 billion since September 15. additional EUR 30 billion could be transferred in the next few weeks. This success, according to Rome, no surprise the Swiss Confederation. "The success of a tax amnesty depends to a large extent of the terms offered, summarizes James Nason, spokesman of the Swiss Association of bankers (ASB). Generous conditions tend to encourage reporting of funds, unlike confiscatory or punitive conditions. "Bercy will appreciate...

And fraudsters that regulate withdraw all funds from Switzerland so far. "Many customers leave or to deposit their funds from Swiss banks after have declared them to the tax authorities of their country", said James Nason. "We managed to keep in our Bank 60 of the assets that have been declared in Scudo (the name of the tax amnesty granted by the Italy)", confirms the voice of Julius Baer.

"Applications without any further".

The creation of the regularization in France cell seems to just have fuelled the curiosity of the fraudsters. "Some of our customers have asked for details about this program, but most of these applications have remained without result, admits a Zurich banker." You know, I do my head not to write if I were you that the so-called amnesty granted by Paris had a real impact on the investments of our French customers.