Switzerland in the age of automatic exchange of banking information • Hacker News Board

Re: Switzerland in the age of automatic exchange of banking information

#151

Post by snovv_crash » Fri, Sep 20, 2019, 8:02 PM UTC

kmonsen wrote: post #76

lawl wrote: post #12

Earlier quoted context omitted.

> Swiss banks doesn't actually disclose to swiss authorities, even though the have a wealth tax based partially on the money in your bank account. (i'm swiss) I believe there is no way in hell they could have passed this legislation if it included giving data of swiss citizens to the swiss government. People here cherish their banking secrecy and it's still somewhat part of the national identity. From a swiss point o…

I loved in Switzerland recently, and I never really understood how the wealth tax works when the banks don't talk to the tax authorities. Is it entirely optional?

Over reporting is actually beneficial, because at the end of the year you can file a correction and the government will refund you the difference, plus interest. The interest rate, while not amazing, is better than any bank would give.

Re: Switzerland in the age of automatic exchange of banking information

#152

Post by mikro2nd » Sat, Sep 21, 2019, 12:26 PM UTC

Causality1 wrote: post #143

mikro2nd wrote: post #110

Earlier quoted context omitted.

Citizenship is a very strange concept to me. The fact of a person being born in a specific geographic location giving the surrounding nation-state the right to claim some sort of perpetual jurisdiction over that person to the exclusion of all other nation-states seems, upon reflection, quite bizarre.

Correct me if I'm wrong, but I believe most Western democracies freely allow people to renounce their citizenship.

Not if it will result in you becoming stateless.

Re: Switzerland in the age of automatic exchange of banking information

#153

Post by teunispeters » Sat, Sep 28, 2019, 10:03 PM UTC

magduf wrote: post #20

teunispeters wrote: post #7

Earlier quoted context omitted.

From following the Vancouver/BC/Canada real estate market, this is very common and normal. (related : Vancouver BC reaching third most expensive city in the world status a couple of years back, for reasons that have little or nothing to do with local populations) The closest I can get to sources though: https://www.cbc.ca/news/canada/british-columbia/laundered-mo... https://www.cbc.ca/radio/podcasts/current-affairs-i…

>related : Vancouver BC reaching third most expensive city in the world status a couple of years back, for reasons that have little or nothing to do with local populations What is it due to? I imagine ease of access to Chinese people who want a place to park their savings, plus nice weather, are the biggest factors. After all, all those wealthy Chinese people could just go to another city, like Edmonton, but they don…

Really healthy support of money laundering by other countries (eg USA, Russia). People blame China "because visible". Although chasing the money there it more seems like China too is making for a nice place for ultrarich (1%) and others (eg drug dealers) trying to dodge taxes or other laws in various countries.

There's no data tracked though, and outside of the RCMP investigation there's basically no public information beyond speculation of possible causes.

Other than it's not population pressure. There's very large ties between Vancouver, India and China visibly - but nothing to the degree costs hit. I found living there that the influences of India and China helped moderate things and help the city be more liveable.