Feb 22, 2012 - Banking secrecy remains secure at home
Switzerland’s tax dispute with foreign countries would disappear overnight were it to lift banking secrecy completely rather than gradually.
Feb 22, 2012 - Banksters' paradise? Switzerland to unveil clean money plan
Under a 'clean money' strategy, which finance minister Eveline Widmer-Schlumpf is expected to present to the cabinet on Wednesday, banks will be obliged to get foreign clients to declare they are compliant with their home tax regimes.
Feb 16, 2012 - Oldest Swiss private bank is newest U.S. target
The U.S. Justice Department has since expanded its criminal investigation to 11 Swiss banks, including Wegelin, Credit Suisse and Basler Kantonalbank, and Swiss officials are seeking a settlement for the entire Swiss banking industry - more than 300 banks.
Feb 13, 2012 - UBS denies helping US in tax probes of other banks
Documents relating to the closing out of accounts were only available in a fraction of the roughly 4,700 cases," UBS said, adding that either clients still held accounts with UBS at the time or they had given information directly to U.S. officials or asked UBS to do so.
Feb 13, 2012 - UBS 'ordered' to give data on rivals in US tax probe
In a statement, UBS said it had been ordered to hand over to Swiss financial regulator Finma client data including, in some cases, instructions relating to the closure of accounts
February 9, 2012 -Levin and Conrad try to close $155 billion in tax “loopho
On Tuesday, two Democratic U.S. senators — Carl Levin and Kent Conrad — piled a laundry list of long-standing proposals into their “Cut Unjustified Tax Loopholes Act.”
February 6, 2012 - Wegelin buyer Raiffeisen cuts US client ties
"Neither the bank itself nor any of the individual employees are facing an indictment. A worse-case scenario in the sense of an indictment would limit our business, but it would not put the financial security of the bank in question," said Basler Kantonalbank chief executive Hans Rudolf Matter.
February 6, 2012 - Swiss banks to outline steps in US tax evasion row
Two Swiss banks will this week outline their response to growing pressure from the US to give up tax-evading American customers and the bankers who helped them.
January 31, 2012 - Swiss banks hand over encrypted data in US tax row
Switzerland has handed U.S. authorities encrypted data on bank employees who served American clients suspected of dodging taxes, and will only provide the key to decipher them once a tax row is settled, the finance ministry said on Monday.
January 30,2012 - Wegelin clients pulled $4 bln, prompting sale-paper
The break-up of Switzerland's oldest bank Wegelin, involved in a row with U.S. authorities over tax cheats, became necessary when clients pulled 4 billion Swiss francs ($4.35 billion) of wealth, Der Sonntag newspaper reported on Sunday, citing unspecified sources.
January 30, 2012 - Swiss finmin: need U.S. tax deal to shield banks
The break-up of Switzerland's oldest bank Wegelin on Friday shows the need to settle a dispute with U.S. authorities over tax cheats hiding cash in secret Swiss accounts, the finance minister said on Saturday.
January 12, 2012 - IRS watchdog accuses agency of "bait-and-switch"
"The IRS's offshore voluntary disclosure program bait and switch may undermine trust for the IRS and future compliance programs," Nina Olson, the national taxpayer advocate who heads the service, wrote in the report.
January 10, 2012 - Swiss bank unfazed in face of any US legal action
Credit Suisse said in July its offshore private banking practices were under investigation and that it would "continue to cooperate with the U.S. authorities." Basler Kantonalbank confirmed a year ago that it was under investigation and in contact with U.S. authorities.
January 9, 2012 - U.S. demands names of Swiss bank staff: paper
U.S. authorities have given Swiss banks suspected of selling tax evasion services to wealthy Americans a Jan 23. deadline to hand over the names of client advisers, a Swiss newspaper reported on Sunday.
January 2, 2011 -Swiss finance ministry says US tax deal needs time
Switzerland and the United States need more time to negotiate a tax deal, Swiss Finance Minister Eveline WidmerSchlumpf told Swiss radio, as the United States pushes for it to supply information on bank clients who are alleged to have evaded taxes.