Swiss approve UBS-US tax deal

17/06/10 20:02 CET

corporate

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Both houses of the Swiss parliament have finally approved a tax treaty with the United States.

The change in the law means that Switzerland’s biggest bank, UBS, will hand over to the US Justice Department the details of nearly 4,500 suspected US tax cheats.

At the last minute, one political party changed its mind about calling for a referendum on the issue which would have created an unacceptable delay.

More about: Banking, Switzerland, UBS

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