Tax and banking cause concern for expats
The Swiss abroad community has vowed to fight any discrimination by financial institutions amid a row with the United States over tax compliance. Expatriates are also worried about a tightening of French inheritance tax rules. The Council of the Swiss Abroad called on the government to ensure that Swiss banks no longer refuse to open accounts or manage assets for Swiss expats. At a meeting in Bern on Saturday, it also stressed that bank fees must not be excessive. The move comes as expats in the US or with dual American and Swiss nationality in particular face being shunned by Swiss banks. The issue of tax compliance and a perceived discrimination of certain Swiss expatriate bank clients came to the fore in 2008 in the context of the global financial crisis. The Swiss Abroad Council has voted several resolutions over the years. It argues that for a Swiss citizen living abroad who respects tax rules, it is inacceptable to be denied an account at reasonable conditions.