An additional protocol signed on Thursday between Greek Finance Minister Yannis Stournaras and Swiss Ambassador to Athens Lorenzo Amberg seeks to avoid double taxation for income tax between the two countries. A first protocol was signed in November 2010.
Greece has asked the Swiss government to relaunch a mechanism through which Greeks with Swiss bank accounts will be taxed after data released by the country’s central bank revealed a large outflow of deposits abroad.
Following the signing of the agreement Stournaras stated that the accord was a first step regarding the exchange of information before the two countries move onto broader agreements in view of greater transparency and social justice.
Ambassador Amberg noted that the agreement was a major step toward closer collaboration between the two nations on taxation issues.