Scottish MSP wants King to pay 200% council tax on Balmoral, Four methods exist to evaluate AI tool accuracy, and Q&A addresses VAT on prize draw tickets

Summary provided by AI

Switzerland digs heels in over client IDs

The Swiss government may confiscate the details of the identities of 52,000 US account holders, if a US court rules next week that UBS should reveal them to US tax authorities. The Swiss government has warned that it will seize UBS client details if the bank is forced to give up the client details by a court order, the Financial Times reports. Although UBS agreed to pay a $780m out-of-court settlement to the US in February, a civil case - pursuing the details of 52,000 US offshore account holders - had been pending. The case is set to continue in Miami next week. At the time of the settlement, the Swiss bank regulator also forced the bank to divulge the identities of 255 US clients who were under suspicion of using sham companies to evade tax. Switzerland said: 'The enforcement of the summons would require UBS to violate Swiss law.'
0
Be the first to vote

Rate this article

Related Articles
Subscribe