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February 19, 2014updated 04 Apr 2017 2:29pm

Revival of stalled German-Swiss tax deal off the table, says German lawmaker

Germany's proposed tax agreement with Switzerland is seen dead and buried in the midst of rising public opposition in Germany to any accord that is too easy on tax evaders, senior members of German Chancellor Angela Merkel's coalition told Bloomberg.

By Verdict Staff

Germany’s proposed tax agreement with Switzerland is seen dead and buried in the midst of rising public opposition in Germany to any accord that is too easy on tax evaders, senior members of German Chancellor Angela Merkel’s coalition told Bloomberg.

"Recent cases of tax evasion have resulted in mounting sentiment among Germans that evasion is fraud and not mere bagatelle," said Ingrid Arndt-Brauer, a lawmaker with Merkel’s Social Democratic coalition partner who chairs the finance committee in the lower house of parliament.

"Any revival of the stalled German-Swiss tax deal is off the table," Arndt-Brauer added.

The German-Swiss deal was agreed in 2012 but its passage was blocked by the opposition in Germany’s upper house of parliament.

The comment follows recent Swiss decision to restrict immigration immigration from European Union (EU) countries.

The EU’s six biggest countries agreed this year to increase cooperation to pile pressure on tax havens which want to protect bank secrecy.

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