ZURICH, Jan 18 (Reuters) - The Swiss government plans to hand over some data on UBS (UBSN.VX: Quote, Profile, Research) (UBS.N: Quote, Profile, Research) clients and accept a large fine against the bank in exchange for U.S. authorities ending a damaging tax probe, the NZZ am Sonntag reported.
The U.S. has accused UBS of helping rich Americans hide billions of dollars of untaxed money in Swiss accounts. They have asked UBS to hand over the names of its U.S. clients, a step that would breach Switzerland's bank secrecy laws and may damage the country's status as leading offshore centre.
No comments:
Post a Comment