Swiss Court Decision Puts Doubts Over UBS Deal

Swiss Court Decision Puts Doubts Over UBS Deal

The January 22nd decision casts doubt on whether Switzerland could hand over the accounts of people who did not give proper documentation, but did not act fraudulently. Nevertheless, U.S. tax authorities said they expect the Swiss to honor the terms of that deal. The Swiss cabinet is supposed to discuss this week how to ensure the implementation of the Swiss-U.S. tax agreement following the court’s decision, it said in a statement. UBS said it had taken notice of the court’s decision but did not comment further.