U.S.-Swiss Tax Deal Hinges on Resolution of UBS Case, Merz Says
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The U.S. needs to resolve a lawsuit against UBS AG seeking the names of 52,000 clients before Swiss voters are likely to approve a loosening of bank secrecy rules, Finance Minister Hans-Rudolf Merz said.
“I can’t imagine that we in Switzerland agree to a double-taxation agreement in a popular vote if this problem isn’t solved before,” Merz told reporters in Berlin today, according to a recording on the Web site of Swiss radio DRS.