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GreekReporter.comBusinessGreeks Hide €200 B in Switzerland

Greeks Hide €200 B in Switzerland

MONEY_533_355Greeks hold deposits of 200 billion euros in Switzerland, while Greece emerges as the “big loser” of tax evasion.
The Austrian newspaper Der Standard dedicated an article to tax evasion in Greece, referring to the large deposits of rich Greeks in Switzerland, as well as to the off shore companies founded by Greeks.
The newspaper, on the occasion of the broadcasting of the French documentary Tax evasion, the hold-up of the century, made by Xavier Harel by the French-German TV network Arte.
“In the Swiss banks, which are the winners of tax evasion in Europe, Greeks – people of money have deposits of around 200 billion euros and Greece is the big loser of tax evasion.”
According to the article, in the documentary it is revealed among others, how a well-known industrial group, with an annual turnover of many billion dollars, has moved its headquarters to Switzerland, an example followed by many multinational companies, resulting in French loosing in taxes more than 30 billion euros annually.
Der Standard also talks about the off shore companies, for example at Cayman Islands, where 18,000 of these companies are installed in a four-story building or in Delaware, where Americans have their own tax haven and where in a one-story building 285,000 companies are registered, the owners of which remain secret.

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