Switzerland transfers 228 mn euro in tax to EU member states

The payment to EU member states of the gross proceeds from tax withheld at the source in Switzerland on interest paid to EU taxpayers adds up to nearly CHF238 million (€228 million). This is three fourths of the €304 million total for 2014, the Swiss Federal Finance Department announced, on 30 June. The previous year, the total came to €489.3 million. Under the savings taxation agreement with the EU, in force since 1 July 2005, tax was withheld at the…