Switzerland’s biggest bank UBS hits a hitch in tax tussle »

By admin on Sep 15, 2008 in Switzerland | 0 Comments

Swiss bank UBS wants to clear the decks of the US tax probe within a fortnight, but is facing a hurdle presented by Swiss secrecy laws. The bank is accused by the US Justice Department and regulators of helping rich Americans avoid taxes through its offshore private banking division. Swiss Finance Minister Hans-Rudolf Merz warned [...]

Swiss finmin urges UBS not to breach bank secrecy »

By admin on Sep 13, 2008 in Swiss Banking | 0 Comments

Swiss Finance Minister Hans-Rudolf Merz has warned UBS not to breach Swiss banking secrecy rules by handing over client details to US authorities investigating tax evasion. “There is always the danger that one wants to quickly sort out the difficulties and and somehow find a fast solution,” Merz said in an interview. “Banking secrecy must [...]