BakerHostetler (JD Supra Switzerland)
Switzerland Announces Intention to Change from Model 2 IGA to Model 1
On October 8, 2014, Swiss officials announced that they intend to negotiate a reciprocal Model 1 FATCA IGA to replace the Model 2 IGA that they signed in 2013. The motivation for the change is unknown, but the automatic exchange of information under Model 1 is more in line with emerging international norms.
Swiss Investment Adviser to Plead Guilty to Helping Americans Evade Taxes
Multiple outlets are reporting that on February 26, 2014, Martin Lack, a Swiss investment adviser and former UBS banker, will plead guilty in the Southern District of Florida to one count of conspiracy to defraud the United States by helping his U.S. customers evade their income taxes. This comes on the heels of the February 6, 2014, announcement of the unsealing of an indictment in the Southern...
Swiss Parliament Votes to Delay Enforcement of FATCA IGA By Six Months
Bloomberg BNA reports that Switzerland's parliament approved a six-month delay to enforce a bilateral Swiss-U.S. agreement on implementation of the U.S. Foreign Account Tax Compliance Act. The two chambers of the Swiss parliament agreed to change the implementation date from Jan. 1, 2014, to July 1, 2014.