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Old 12.12.2006, 11:26
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Taxation or Public records

Hello,

I was just wondering if there is a public database or an authority one can get information of salaries and wealth of private persons?
Can the tax department request the amount of money saved in A Swiss Bank account ?

Thank you

Roland
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Old 12.12.2006, 13:26
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Re: Taxation or Public records

Quote:
Hello,

I was just wondering if there is a public database or an authority one can get information of salaries and wealth of private persons?
Can the tax department request the amount of money saved in A Swiss Bank account ?

Thank you

Roland
Any information regarding personal wealth of Swiss residents is estimated. The true information is confidential.

The Tax department is informed of the amount of money in a standard Swiss account through the production os a tax receipt. They can further request clarification of this information from the bank when you produce your tax return. They cannot access information held by non-Swiss residents unless they specifically ask for the person as part of an investigation into criminal activities.

If you are wanting to "hide" such information then you can through a private banking account or a numbered account. The latter has no connection to any named person and is accessed through a passbook or a code plus the number of the account. If the code or number are forgotten or the passbook misplaced then the money eventually goes to the bank
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Old 12.12.2006, 13:30
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Re: Taxation or Public records

numbered accounts don't exist anymore (to open). And if they still did exist, you'd need a large chunk of lolly.

With KYC and AML [search wikipedia], the [in-]famous numbered accounts of the Swiss bank are a thing of the past. Or so they say.....
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Old 12.12.2006, 13:33
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Re: Taxation or Public records

Quote:
numbered accounts don't exist anymore (to open). And if they still did exist, you'd need a large chunk of lolly.

With KYC and AML [search wikipedia], the [in-]famous numbered accounts of the Swiss bank are a thing of the past. Or so they say.....
I can assure you, but I am not telling you how, that numbered accounts still do exist and you can open one today if as you say you have the lolly Today they are simply referenced as no-name accounts...
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Old 12.12.2006, 13:42
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Re: Taxation or Public records

I'd wonder why you want this info.

Are you tracking down an ex?
Or do you want to see how Joe Bloggs down the road can afford the Aston?
Or do want to see how much your colleagues are getting?

I'm sure it's obtainable, but probably nefariously like you can get chapter and verse in the UK, but again: why
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Old 12.12.2006, 13:58
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Re: Taxation or Public records

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I can assure you, but I am not telling you how, that numbered accounts still do exist and you can open one today if as you say you have the lolly Today they are simply referenced as no-name accounts...
Yep, agree with Richard they sure do still exist. I have heard though that the 27th kanton of Switzerland is the best place to open one if you've got enough liquidity (you know, the canton with the white on black number plates ). Remember also though that Swiss Banks and Casinos have some pretty serious reporting requirements in regards to combating money laundering (GwG) and they are trying to make them tougher. Certain transactions require identification. I don't know if this applies in the 27th.
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Old 12.12.2006, 14:12
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Re: Taxation or Public records

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Certain transactions require identification. I don't know if this applies in the 27th.
Unless of course you have a numbered account in which case ownership is ten tenths of the law - so to speak...
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Old 12.12.2006, 16:35
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Re: Taxation or Public records

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Unless of course you have a numbered account in which case ownership is ten tenths of the law - so to speak...
I'll beg to disagree on this. GwG laws are designed to monitor transactions and who is making them, not who owns the account or how much is stored in it. These records are only for ensuring the money is clean, and as far as I know are not accessible by taxation departments. I believe affects deposits more than withdrawals. If a depositor won't comply with GwG requirements, a bank is obliged to refuse the deposit or risk serious legal consequences. As I said I don't know if this applies to FL, or if they have similar legislation.

Reference: Money Laundering Act 1997

What that means is if Mario has to deposit 2 Million francs into Luigi's numbered account, Mario has to identify himself and declare the money clean. Luigi owns the account, but remains faceless. But if Luigi then has to deposit the money to Antonio, then thats when Luigi has to identify himself. But he never has to say how long he has had the money or where he stored it, just declare that it is his and that it is clean.
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Old 12.12.2006, 16:59
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Re: Taxation or Public records

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I'll beg to disagree on this. GwG laws are designed to monitor transactions and who is making them, not who owns the account or how much is stored in it. These records are only for ensuring the money is clean, and as far as I know are not accessible by taxation departments. I believe affects deposits more than withdrawals. If a depositor won't comply with GwG requirements, a bank is obliged to refuse the deposit or risk serious legal consequences. As I said I don't know if this applies to FL, or if they have similar legislation.

Reference: Money Laundering Act 1997

What that means is if Mario has to deposit 2 Million francs into Luigi's numbered account, Mario has to identify himself and declare the money clean. Luigi owns the account, but remains faceless. But if Luigi then has to deposit the money to Antonio, then thats when Luigi has to identify himself. But he never has to say how long he has had the money or where he stored it, just declare that it is his and that it is clean.
Not wanting to disagree with you

To the best of my knowledge the GwG law insists that the person who opens a relationship with a bank or other listed financial institutions, including casinos (!) needs to identify themselves and furthermore each transaction needs to be recorded and the record stored for 10 years so that a person could follow the transaction and identify the involved parties. It does not but I could be wrong insist that every person paying large deposits into an account needs to be identified. The reason why do not believe this is the case is this would then prevent transactions between countries that do not insist on proof of identity, such as the Cayman Isles and Switzerland which is not the case and as you rightly point out FL...

But anyway numbered accounts do exist...
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Old 12.12.2006, 17:39
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Re: Taxation or Public records

Richard I think you are more correct as far as the banking side of GwG is concerned, my point only being that a numbered account is no certainty of complete anonymity. But if I were to stumble across a briefcase full of "doozigers", I would head for Vaduz. They seem to be more passionate about this kind of banking.

So far a lot of the Money Laundering Act has been "Self-Regulation" administered by the Banks and Casinos own association bodies. But the EBK and the ESBK (Banking and Casino Commissions respectively) have been moving towards stricter regulation, but have balked, seeing that it would be "quantity" more than "quality", not to mention an administrative nightmare.

For casinos I know it is bad enough already. If you change more than 15'000chf in one day (and for some that is not a lot), you must provide a passport copy. Otherwise you don't get to collect your winnings. But again this only records the transactions. Remember that money you win in casinos located on Swiss soil are not subject to income tax, only tax on your total net worth. Although casino gambling itself is usually a form of idiot tax.
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