German state authorities examining tax data

Image
Bloomberg
Last Updated : Jan 20 2013 | 1:11 AM IST

German authorities in the state of Baden-Wuerttemberg are examining tax information offered by an informant detailing what may be illicit funds stashed in Swiss accounts, though they said they won’t buy stolen data.

Finance Ministry officials in the southwestern region received an offer from an informant who claimed to have information on German companies and business people with ¤800 million ($1 billion) in Swiss accounts, Simon Veser, a ministry spokesman, said by telephone today from the state capital Stuttgart.

He confirmed media reports from yesterday, adding that the allegations from the informant, who cited funds tied to the telecommunications and real-estate industries, haven’t been verified. “The data that arrived are being examined,” he said.

The purchase by German authorities of stolen tax data to uncover alleged tax evasion in Switzerland has been a source of tension between the governments in Berlin and Bern. Switzerland has said it won’t offer legal assistance in such cases.

Since the controversy, thousands of people across Germany have filed voluntary tax declarations on their Swiss bank holdings, fearing they would be caught up in the dragnet.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 24 2010 | 1:21 AM IST

Next Story