Taxation: Switzerland

Treasury written question – answered on 14th January 2014.

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Photo of Adrian Sanders Adrian Sanders Liberal Democrat, Torbay

To ask the Chancellor of the Exchequer what assessment he has made of the likely effect of the Liechtenstein Disclosure Facility on the recovery of UK tax liabilities from assets held in Switzerland at the time of the signing of the UK-Swiss tax agreement.

Photo of David Gauke David Gauke The Exchequer Secretary

In its Economic and Fiscal Outlook published in December 2013, the Office for Budget Responsibility broke down the anticipated yield from the UK-Swiss agreement into (i) amounts to be received directly from Switzerland and (ii) amounts received via the Liechtenstein Disclosure Facility or HMRC. The latter amount was shown as £0.5 billion.

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