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4 results for JD Supra Switzerland › Sanford Millar

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  • Swiss Will Not Cooperate if Data Stolen

    Switzerland announced that it will NOT PROVIDE Assistance based upon stolen data. The Swiss Federal Council has submitted a new Tax Administrative Assistance Act for consultation. The Act spells out how and when it will cooperate with requests for information on account holders. It was made clear that the Swiss will not cooperate with requests based upon stolen account data. It will be...

  • HSBC Next Tax Haven Bank Under Attack?

    According to press reports a former employee of HSBC Private Bank in Geneva, Switzerland stole computerized account data on 80,000 accounts and delivered the information to French authorities. There is no indication how many of the accounts are held by U.S. residents, but the published reports state that at least 1,800 of the accounts belong to Canadians. The Canadian Revenue Authority is...

  • FBAR Voluntary Disclosure Opportunity Closing

    The agreement between the Swiss and U.S Government requires that the SFTA render decisions by the end of August, 2010. The decision will go to whether to turn over customer account information to the IRS. Please see full alert below for more information.

  • Swiss Delivering Bank Records to IRS

    The Swiss Tax Administration (SFTA) has begun notifying US persons with Swiss accounts that it will turn account records over to the IRS absent an appeal by the account holder. Please see full alert below for more information.

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