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News & Events

Archive by Year:2010 - Page 4

Swiss Parliament Votes to Allow Disclosure of UBS Accounts

Press Releases

Posted in on June 16, 2010

In a blow to the Swiss tradition of banking secrecy, the Swiss Parliament voted today to allow UBS AG to carry out its agreement with the U.S. government. Under the terms of the agreement, UBS promised to disclose the identities of U.S. taxpayers with hidden accounts at the Swiss bank. In exchange, the U.S. government agreed to not prosecute UBS for its role in assisting U.S. tax evaders. UBS plans to disclose the names and account details of 4,450 accounts held by US citizens suspected of tax evasion.

 

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Update: Swiss Parliament Votes to Allow Disclosure of UBS Accounts

Articles & Publications

Posted in on June 15, 2010

In what is seen as a blow to the famous Swiss banking secrecy laws, the Swiss Parliament resolved its split over the UBS account information disclosure issue when the lower house voted on June 15th to effectively overturn the Swiss court’s ruling that was temporarily blocking the agreement between UBS and the U.S. government.  Under the terms of the agreement, the U.S. government agreed to not prosecute UBS for its actions in assisting US tax evaders if UBS disclosed the names and account details of its 4,450 largest accounts held by US citizens suspected of tax evasion.

 

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Offshore Accounts: Swiss Parliament Votes to Allow Disclosure of UBS Accounts

Offshore Account Update, UBS / HSBC

Posted in on June 15, 2010

The Swiss Parliament has resolved its split over the UBS account information disclosure issue.

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Swiss Parliament Temporarily Split on Whether to Allow UBS Disclosure

Offshore Account Update, UBS / HSBC

Posted in on June 8, 2010

Lower and Upper house of the Swiss Parliament disagree on UBS U.S. accountholder disclosure.

 
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ABA Tax Section Meeting 2010, Update on UBS Offshore Accounts in Washington, D.C.

Events

Posted in on May 6, 2010

Kevin E. Thorn will be giving the UBS Offshore Account Update on Voluntary Disclosures at the upcoming ABA Tax Section, Civil & Criminal Penalties Committee Meeting in Washington, DC.

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