Swiss Federal Council Recommends Rejecting Initiative on Protection of Tax Privacy

On August 26, 2015, the Swiss Federal Council recommended that the Swiss Parliament and votes reject the popular initiative “Yes to the protection of privacy” and approved a message for the attention of the Parliament.  The message explains that the initiative interferes significantly in tax and prosecution procedures.  Hence, it would jeopardize the accurate imposition of federal, cantonal and communal taxes as well as have an adverse impact on the fight against money laundering and terrorist financing.