“The Swiss finance ministry said that Britain had received a payment of 372 million francs, and Austria, 515 million. A ministry spokesman said the payments were just the first in a series of monthly instalments running until June 2014.  Under bilateral deals with Britain and Austria, Switzerland has offered two options to people who fail to declare money placed in Swiss banks.  They can either turn themselves in to their homeland’s revenue services, or have their accounts taxed by the Swiss, who then transfer the funds without naming the clients. It was under the latter system that Switzerland handed over the sums revealed on Thursday.”

http://www.thelocal.ch/20130725/millions-transferred-to-britain-austria-in-tax-deal

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