Bulgarians have about 400M leva in Swiss banks – revenue agency

Bulgarians hold about 400 million leva (about 204.69 million euro) in banks in Switzerland, according to calculations by Bulgaria’s National Revenue Agency.

The revenue agency’s calculations were based on information submitted annually by Swiss banks on interest they had paid. The amount is about one per cent of the deposits by individuals in their vaults.

The names of those keeping money in Swiss banks may become known in 2018 when the automatic exchange of information on deposits with the European Union and the United States begins.

The Swiss government, in a decision on October 9, approved a mandate for negotiations with partner countries to exchange information on tax matters.

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(Photo: Sanja Gjenero)