Swiss Justices Let Tax Agency Give UBS Client Info To France

Law360 (July 26, 2019, 2:49 PM EDT) -- The Swiss tax authority is permitted to give its French counterpart information on clients of UBS bank who have alleged tax liabilities in France, the Swiss Federal Supreme Court ruled Friday.

UBS said it worries that revealed data could be used against it while it appeals a money-laundering fine levied by a French court. (iStock) The decision reverses a lower court ruling and is a further blow to financial secrecy in the alpine country that for years had a reputation for keeping account holders’ details under wraps. The French tax authority in May 2016 had requested help from the Swiss tax...

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