Swiss-German Tax Accord May Cost $643 Million, Odier Tells SZ

Swiss Bankers Association President Patrick Odier said the implementation of the government’s tax accord with Germany over cross-border accounts of wealthy customers may cost lenders around 500 million Swiss francs ($643 million), SonntagsZeitung reported.

A separate tax agreement with the U.K. could be reached over the coming weeks, Odier told the newspaper in the interview published today. Swiss banks support further treaties with the U.S., Italy and France, he said.

To contact the reporter on this story: Simone Meier in Zurich at smeier@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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