Switzerland – UBS AG may disclose data on 4,000 to 5,000 U.S. clients as part of a settlement agreement initialed last week by Switzerland and the U.S., Sonntag reported, citing two unidentified people familiar with the matter.
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While the bank isn’t facing a fine, its clients may have to pay about 4 billion francs ($3.7 billion) in taxes and penalties, the newspaper estimated.
UBS spokesman Andreas Kern declined to comment on the report when contacted by Bloomberg News today. A spokesman for the Swiss justice ministry wasn’t reachable on his mobile phone.
Couldn’t be a better time for Obama. Another $3.7 billion to spend on his failing health care plan. I wonder how this will affect the economy…
Can you imagine if the IRS said listen everyone bring back your money now And pay no tax.? This would be the best stimulus plan ever.
But they can’t think out of the Box
Why can’t they loose the accounts like they lost Holocaust accounts
Fascism in america just took the first blow. The people hope to see a lot more of this crack down on millionaire tax cheats! It’s high time to lessen the consolidation of wealth to a few! 🙂