Dossier - Banking secrecy

Switzerland implements the OECD standard and reaches a settlement with the USA regarding UBS
Since its decision of principle of 13 March 2009, the Federal Council has consistently implemented the adoption of the OECD standard regarding administrative assistance in fiscal matters in accordance with Article 26 of the OECD Model Convention. After having signed 12 double taxation agreements containing the new standard, Switzerland has been removed from the OECD’s ‘grey list’. The new arrangement permits the exchange of information in response to specific requests also in cases of tax evasion. 
 Media Release 13.03.2009
 Interview 29.05.2009 (de)
 Chronological summary of all information on the same topic from the federal administration

UBS case
On 19 August 2009, Switzerland signed an agreement with the USA in which the two parties agreed on how to proceed with the UBS case: The USA will submit a new application for legal administrative assistance and will withdraw a judicial enforcement action demanding disclosure of the identities of 52,000 UBS accountholders. In return, Switzerland undertakes to process the new request for administrative assistance, concerning 4,450 accounts, within one year.  

 Media Release 19.08.2009
 Press kit

 Declarations
 Agreement
 Speaking notes (fr)

Segreto bancario e questioni fiscali internazionali © DFF

Switzerland‘s viewpoint

 Broschure [pdf]