Ethics and governance in the European Financial centers

Switzerland and Denmark have agreed at a technical level to the extension of administrative assistance in tax matters under Art. 26 of the OECD Model Convention. The tax authorities of both States initialed a revised double taxation agreement (DTA)

Le temps reported that at the same time ,Switzerland and Luxembourg initialed as well revised double taxation agreement with no transparency.

The secrecy was intended to mislead France and the European Union prior to sensitive tax negociations and does not comply with Luc Frieden's recent statement that Luxembourg is a transparent financial center.