The problem of capital flight from Switzerland to Germany has reached a peak following the increased pressure on German tax evaders. According to Hagen Kohlmann, of the main customs office in Ulm, in an interview with the Wirtschaftswoche, "sometimes we find capital in one out of three cars crossing the border". He also reported it in recent days "Il Sole24 Ore".
The seizures of money are increasingly involving six-figure sums, adds the head of the customs sector in the border region between Switzerland, Germany and Austria. The maximum limit of money that can be imported into the European Union without a declaration amounts to 10 euros.
In 2013, German customs seized the sum of 573 million euros, against 9,3 million the previous year. Several Swiss banks have issued an ultimatum to their customers by the end of the year to adjust their tax situation. This move led many tax evaders to take action, and in Germany the number of self-reports increased dramatically.
The situation has also spread to Italy where only in March, at the Chiasso border, eight seizures of capital took place against "passeurs", blocked in an attempt to hide the money.
