Switzerland will not cooperate with foreign authorities on tax cases where client data has been stolen from banks, its Finance Department said on Wednesday, following a recent spat with France.
“No administrative assistance can be provided in the case of violation of public policy or the principle of good faith,” the department said in a statement.
A recent case involving data theft from HSBC’s (HSBA.L) private bank in Geneva sparked a diplomatic row with France, leading the Swiss government to freeze negotiations for a new bilateral tax agreement.
“This refers specifically to the case of HSBC of course,” Finance Department Deputy Secretary General Thomas Saegesser told Reuters. “If a demand from another state were against the public interest, a state would not be informed.”
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