Switzerland’s finance minister Minister Hans-Rudolf Merz yesterday defended
banking giant UBS amid concerns a US tax
evasion probe into the bank could damage the country’s reputation.
He said the ‘presumption of innocence’ should be applied to the bank, but
stressed the government would co-operate with the US authorities on the case,
Forbes magazine reports.
US authorities have requested UBS reveal the details of bank accounts held by
US citizens in the investigations – an issue the bank took ‘very seriously’.
Complying with such a summons would mean flouting Swiss privacy and banking
secrecy laws, and Merz was forced to brief a parliamentary economic commission
on the case last Tuesday.
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
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Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay