Bloomberg

(Bloomberg) -- UBS Group AG has ended a legal fight with the Internal Revenue Service, agreeing to hand over records on a U.S. client’s account in Singapore as American authorities seek to move beyond Switzerland in their fight against offshore tax evasion.

The IRS on Feb. 23 asked a federal judge in Miami to force UBS, the largest Swiss bank, to produce documents on Ching-Ye Hsiaw, who lives in China. UBS reached an agreement with the IRS last month and has handed over all the records sought by the U.S., according to a court filing.

To contact the reporter on this story: David Voreacos in federal court in Newark, New Jersey, at dvoreacos@bloomberg.net. To contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, Michael Hytha

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