Swiss bank client confidentiality
On 13 March, Switzerland declared that it will adopt the OECD standards regarding the exchange of information upon request in tax matters. It is a global standard, recently also adopted by all major offshore financial centers, including Singapore, Hong Kong, Luxembourg, Liechtenstein and Monaco. The protection of the legitimate right to privacy of our clients will remain intact.
The protection of the legitimate right to privacy of our bank clients will remain intact - as declared by the Swiss Government. UBS emphatically supports this position.
Switzerland is adopting an emerging global standard. Switzerland repeatedly said that a "level-playing field" with other financial centers is paramount.
Switzerland has declared that it will not adopt the automatic exchange of information nor allow for unspecific "fishing expeditions" by foreign authorities. It will permit the exchange of information with other countries in individual cases where a specific and justified request has been made.
This is a political and legislative process that reflects the Swiss Federal Council's intention to improve cooperation with other governments in combating tax offenses and to initiate a dialogue with non-EU and non-EFTA countries concerning taxation of interest income.
UBS will respect this framework and supports Switzerland's intentions.
Media release by the Swiss Federal Council [ eng | deu | fra | ita ]
Media release by the Swiss Bankers Association [ eng | deu | fra | ita ]
Dossier on bank client confidentiality by the Swiss Federal Department of Finance [ eng | deu | fra | ita ]
Video message of federal council H.-R. Merz [ deu | fra | ita ]
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