The affair of the DVD stolen from the subsidiary of a Liechtenstein bank, then bought by the German secret services for a king's ransom was only the prelude to an orchestrated attack on Switzerland and her banking secrecy in tax matters. The criticism, initially launched by a number of German politicians, was then embraced by others, including the leaders of the Swiss Socialist Party. At the centre of the debate lies the distinction Switzerland makes between tax evasion and tax fraud. We asked a highly regarded expert on the subject – Professor Xavier Oberson, of Geneva University – to examine the consequences if the distinction were to be abolished. He arrives at the conclusion that questioning it would lead to an overall revision of Switzerland's tax system.

Find out more...