The Swiss cabinet has discussed a tax dispute with the United States and the handing over of bank data to US justice authorities at its latest meeting.
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Referring to recent media reports that millions of bank client emails had been handed over, cabinet spokesman André Simonazzi said the figure was exaggerated.
As the finance ministry said previously on Tuesday, 20,000 pages of encrypted data were involved, he said. He would not comment on whether the data had already been sent.
Cabinet members were also informed of the details of a Monday meeting between the finance and justice ministers along with the parliamentary economic commission on the issue.
The spokesman for the cabinet said more information would not be given while discussions were underway, but he added that the government’s goal was to find a conclusive solution to the tax dispute.
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Bank client emails in the hands of US
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Full access to the information will only be provided when a tax agreement is in place between the two countries. Swiss Finance Minister Eveline Widmer-Schlumpf informed a parliamentary economics commission that Credit Suisse and seven other Swiss banks wanted to make concessions to the United States by offering information about client relations. According to research…
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However, the ministry denied reports that millions of client emails were involved, putting the scale of the transfer at some 20,000 pages “on the US business of the banks”. Full access to the information, with names of client advisors, will only be provided on a case-by-case basis or when a tax agreement is in place…
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Wegelin, which was founded in 1741, said on Friday most of its clients and staff would be transferred to a company called Notenstein Private Bank which will in turn become a 100 per cent subsidiary of the Raiffeisen banking group. The sale price has not been made public. US authorities charged three Wegelin staff on…
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