Dominique Lecocq, Lecocq Associate, Geneva, Switzerland

lecocqassociate
banking & corporate finance law firm
2. Objectives of the RUBIK System
The Objectives are straight forward:
• To Preserve the Banking Secrecy;
• To Clean the Past with a one-stop payment while preserving the identity of clients;
• To Ensure Confidentiality and Appropriate Taxation of the Funds deposited in Swizerland by
a tax at source levied by Swiss banks, acting as paying agents;
• Swiss perspective: RUBIK protects the privacy of bank clients and ensures the
enforcememebt of tax collection;
• Withholding tax is preferable to automatic exchange of bank data;
• Switzerland forwards the tax owed directly to the country concerned.
With an aim also:
• To ring fence the competitiveness of Swizerland.
• To simplify market access for Swiss financial institutions in counterparties.
• To ensure a clean financial place.
New- York Conference - 21 May 2012 – Dominique Lecocq
7