1. UBS Tax-Pact Talks Stretch Into Fifth Week.
- Author
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MOLLENKAMP, CARRICK and Saunders, Laura
- Subjects
- *
LEGAL settlement , *FINANCIAL disclosure ,FEDERAL government of the United States ,SWISS politics & government, 1945- - Abstract
The article reports on the settlement negotiation between UBS AG and the U.S. and Swiss governments in August 2009 in an effort to create a pact that would abolish Swiss bank secrecy. It was noted that all parties are trying to establish a deal that will lead UBS to provide client information on accounts related to U.S. citizens. According to some lawyers, the U.S. Internal Revenue Service (IRS) is attempting to determine the identities of U.S. citizens related to 52,000 accounts.
- Published
- 2009