Switzerland is to process a request by the United States for details of an estimated 4,450 American accounts of Swiss bank UBS to end a tax dispute between the two countries.
The process will be governed by the existing tax treaty between Bern and Washington, according to the text of an agreement signed in Washington on Wednesday.
US tax authorities have been seeking the confidential details of up to 52,000 clients suspected of cheating the US tax system. The out-of-court settlement saves what had been seen as a long, damaging and costly court case. More...
Don't miss:
- UBS settlement with US nothing to cheer about, says Swiss press...
- Chinese "misled by Hong Kong banks" lost 64 million dollars...
- Swiss govt. steps in to prevent UBS from revealing US clients' data...
- The end of Swiss bank secrecy...
- Singapore tycoon sues Citigroup over heavy losses...
No comments:
Post a Comment