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  1. Wealth
November 25, 2009

AFP: Swiss tell 500 UBS clients of data transfer

By Spear's

BERN Swiss authorities said Tuesday they had informed more than 500 UBS clients suspected of having evaded taxes in the United States whether their data would be transmitted to US tax authorities.

BERN — Swiss authorities said Tuesday they had informed more than 500 UBS clients suspected of having evaded taxes in the United States whether their data would be transmitted to US tax authorities.

“Within the scope of a request for a administrative assistance from the US tax authorities, the Federal Tax Administration has already processed over 500 cases,” said the administration in a statement.

“The respective conclusive decrees to UBS clients have been issued and sent off,” it added.

Affected UBS clients can now appeal within 30 days against the decision at the Federal Administrative Court, which will make a final decision.

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