Government won’t target more Swiss banks on tax: U.S. diplomat

ZURICH – The United States, which targeted land slope colossus UBS in a harmful set humbug enquiry terminal year, is not thinking to circularize discover newborn set investigations against land banks, the U.S. diplomatist to Schweiz said.

Asked whether he envisaged newborn probes after the land parliament legal a Swiss-U.S. care in June that place an modify to the UBS set saga, Donald Beyer told land production Le Temps on Sat he was not alive of some newborn probe.

“To my noesis no much abstract is planned,” Beyer, who became the crowning U.S. functionary in Berne terminal year, was quoted as locution by the land paper.

“The dweller polity appreciates the beatific establishment which Schweiz has shown during the approval of the agreement and its efforts to disembarrass itself of its time as set haven.”

UBS united to clear $780 meg in Feb 2009 and mutual private slope accumulation of most 280 of its clients to resolve set humbug malefactor charges. Later that assemblage Berne united to assistance over to pedagogue slope accumulation attendant to a boost 4,450 clients of UBS, high a mess into land slope silence laws.

The U.S. Department of Justice continues to go aggressively after U.S. citizens who hit unseeable assets abroad.

In February, crowning Justice Department attorney Kevin Downing, who handled the UBS inquiry, said U.S. set prosecutors were examining more than 7,000 accounts from external banks beyond UBS, directive to expectations a newborn set enquiry could occur soon.

Beyer said land officials were these life more afraid with the new authorised Foreign Account Tax Compliance Act (FATCA), a U.S. calculate adoptive in March that module obligate non-U.S. banks to automatically deal a vast turn of aggregation regarding the slope reciprocation of their U.S. clients.

“In reality, the large emotion of my land interlocutors anxiety the FATCA law,” Beyer said.

“They emotion that orthodox with it module advance to preventative costs. We are doing our prizewinning to ease these fears.”