Reuters reports that Swiss Bank UBS AG will give the U.S. Department of Justice the names and account information of it’s customers:
In an unprecedented move, UBS, based on an order by the Swiss Financial Markets Supervisory Authority (FINMA), agreed to immediately provide the U.S. government with the identities of, and account information for, certain United States customers, the department said.
UBS has been assessed penalties, restitution and interest of $780 million and has agreed to cease allowing U.S. investors to have undeclared (secret) accounts.
John A. DiCicco, acting assistant attorney general of the Justice Department’s Tax Division, said in a statement, “The veil of secrecy has been pulled aside and we will continue to aggressively pursue those who shirk their federal tax obligations or assist others in doing so.”
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3 responses so far ↓
1 United States Sues UBS to Force Disclosure of American Taxpayer Names // Feb 19, 2009 at 3:16 pm
[...] ← Bad News for UBS Investors: UBS to Disclose Investor Names to IRS [...]
2 UBS & US Tax Dispute Agreement Done // Aug 12, 2009 at 9:58 am
[...] [...]
3 UBS to Disclose 5,000 American Taxpayer Names // Aug 17, 2009 at 8:52 am
[...] Bad News for UBS Investors: UBS to Disclose Names to IRS [...]
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