Under principles prevailing in Switzerland, it is up to the taxpayer himself to meet his obligations to the Tax Authorities.

1. Accordingly, it is not the banks task to inform the Tax Authorities in case of tax evasion, i.e. any action or omission leading to the evasion of tax on taxable assets such as income or capital. That being said, in exceptionally serious cases justifying the involvement of the special federal investigatory bodies recently set up, banks can be compelled to provide information.
2. Following a death, banks are not bound to provide information to the Tax Authorities to enable them to draw up a schedule of the deceased assets. The authorities must therefore approach the heirs or the executor of the will.
3. On the other hand, as is provided in the new law on direct federal taxation which is applicable as from 1995, in the case of tax fraud intended to outwit and deceive the Tax Authorities by the use of forged documents (false invoices, false accounts, false balance sheets, etc.), banking secrecy is waived since a criminal offence is involved.

As far as indirect taxes are concerned, such as withholding tax, stamp duty or VAT, banking secrecy vis-?-vis the Tax Authorities is an acknowledged right except in the case of tax fraud.

• Banking Secrecy Has Never Been Absolute
• The Identity of the Client is Always Known to the Bank
• Origin and Raison d'etre of Banking Secrecy
• Domestic Law: Procedure
• Preserving Documents
• Marriage
• Protection of Personal Data
• Foreign Banks
• Criminal Law
• Funds Derived From Drug-Trafficking
• The Exercise of Due Diligence
• The Fight against Money Laundering in the Financial Sector
• Conclusion