Latest idea is ‘amnesty’ for overseas bank deposits

The proposal mostly eyes Greek citizens with deposits in Switzerland

The same day as a proposal to slap a surcharge on bank withdrawals was “floated” and then unceremoniously shot down two hours later, Yanis Varoufakis’ unveiled a plan to institute a 15-percent tax on deposits held by Greek citizens in foreign banks, “to ensure legality”.

According to Varoufakis, there would be no obligation to repatriate the money, either.

For deposits in Greek banks deemed as “untaxed”, he pointed to a possible 30-percent tax.

A major question, however, is this: What about people who’ve paid their taxes on generated income and revenue and prefer to keep their cash overseas?

According to reports, a pending deal between Greece and Switzerland will introduce the “voluntary disclosure agreement”, whereby Greek citizens with deposits in the latter will be called on to disclose their (untaxed) reserves.