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UBS Disputes Claims of Non-Cooperation with Tax Investigation
By Matt Squire
printSwitzerland's largest bank disputed claims Wednesday that it was balking at U.S. demands for information on 52,000 undeclared accounts suspected to belong to tax evaders. UBS and the Swiss government are sandbagging the efforts of the Internal Revenue Service in finding the identities of U.S. citizens with UBS accounts in Switzerland in an effort to retain their "national value" of bank secrecy, said Senator Carl Levin, the chairman of the Senate Permanent Subcommittee on Investigations. "The Swiss are continuing their centuries-old tradition of hiding foreign wealth, which denies our government resources and offloads our tax burden onto the backs of...
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