Swiss Banking Secrecy

A recent survey by the Swiss Finance Ministry has found that 51 per cent of those questioned favour maintaining banking secrecy in its present form, compared with 57 per cent a year ago.

Reportedly, almost a third of the 1,516 people interviewed said they would like to see banking secrecy lifted in cases of tax evasion, as well as for fraud (compared with 30 per cent and 25 per cent in 2003 and 25 per cent in 2001).

Fifteen per cent favoured the scrapping of banking secrecy – up from 11 per cent last year.

"The last four years have seen a clear polarisation of opinions,"

The survey also questioned participants on issues such as the national debt (levels and reduction measures), tax burdens, and the Swiss-EU agreement on taxation of interest.