Swiss Meet on UBS Tax Case

August 11th, 2009

Wall Street Journal

ZURICH — The Swiss cabinet held an extraordinary meeting on UBS AG’s problems with U.S. tax authorities, a move that could signal Switzerland is close to bowing to the U.S. on demands to hand over data.

The case centers on the U.S. Internal Revenue Service’s efforts to obtain the identities of 52,000 accounts to investigate alleged offshore tax evasion by UBS clients.

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