The Swiss parliament today approved a treaty with the United States that will hand thousands of files on suspected tax cheats to U.S. authorities, but obstacles remain that could delay the deal for several more months. The government hopes the agreement will eventually end UBS AG's three-year battle with U.S. tax authorities that culminated in revelations the bank had for years helped American clients hide millions of dollars in offshore accounts.
June 15, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The Swiss parliament today approved a treaty with the United States that will hand thousands of files on suspected tax cheats to U.S. authorities, but obstacles remain that could delay the deal for several more months.
The government hopes the agreement will eventually end UBS AG’s three-year battle with U.S. tax authorities that culminated in revelations the bank had for years helped American clients hide millions of dollars in offshore accounts.
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