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European Court of Justice say Banks Cannot Rely on Secrecy Laws to Deny Taxes

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Lobo
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European Court of Justice say Banks Cannot Rely on Secrecy Laws to Deny Taxes

Post by Lobo on Sun 17 Apr 2016, 2:43 pm


General view of the buildings of the Court of Justice of the European Communities
The European Court of Justice (ECJ) has stated that banking secrecy established in Austria cannot be relied upon by German Bank branches in Austria to defeat tax authorities. Branches of German credit institutions in Austria must therefore provide information on accounts and assets to German tax authorities if a German customer is deceased to allow Germany to get inheritance taxes. The highest German tax court, the Bundesfinanzhof in Munich, had gone to the ECJ after the Sparkasse Allgäu refused to reveal to the tax office disclosing all account balances of their deceased clients. The hunt for money is endless. Whatever may have been the rule of law is pealed away when they are desperate for money.
Meanwhile, the United States also wants inheritance tax on Canadians who simply own property in the United States even if they are Canadian only. This entire turn of events going after inheritance taxes of non-citizens and the ECJ ruling that the laws of one country cannot block inheritance taxes in another continues to reveal the desperate increase in taxation.
https://www.armstrongeconomics.com/world-news/taxes/european-court-of-justice-say-banks-cannot-rely-on-secrecy-laws-to-deny-taxes/

    Current date/time is Fri 24 Nov 2017, 7:43 pm