German State Fails to Persuade Swiss on Tax Deal, Le Temps Says

The president of Germany’s Baden- Wuerttemberg state, Winfried Kretschmann, failed to persuade Switzerland’s government to implement a tax agreement earlier than previously agreed, Le Temps reported.

Kretschmann is concerned the Jan. 1, 2013, start date gives German owners of Swiss bank accounts too much time to transfer their assets elsewhere, the newspaper said, citing Kretschmann, who met four members of Switerland’s seven-person cabinet yesterday to discuss the matter.

Switzerland doesn’t intend to renegotiate an agreement that has already been approved by Germany’s parliament, Le Temps said.

To contact the reporter on this story: Simeon Bennett in Geneva at sbennett9@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net

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