Swiss lawmakers on Thursday gave final approval to a treaty with the United States that will hand Washington thousands of files on suspected tax cheats. The Swiss Parliament's upper and lower houses agreed to head off a voter referendum on the deal, which will see the country's biggest bank, UBS AG, divulge to U.S. authorities the names of 4,450 American clients suspected of tax evasion.
June 18, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Swiss lawmakers on Thursday gave final approval to a treaty with the United States that will hand Washington thousands of files on suspected tax cheats, agreeing to drop plans to allow a referendum on the issue.
Parliament’s upper and lower houses agreed that there will be no possibility of referendum on the deal that will see the country’s biggest bank, UBS AG, divulge the names of 4,450 American clients suspected of tax evasion to U.S. authorities.
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