Big Blow for UBS – 40,000 clients must be reported to French tax office

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The Federal court has upheld a complaint by the Swiss Federal tax administration with three to two votes. The Federal judge of the second public law Department have in their advice, however, unanimously stressed that the data is not in the money laundering proceedings against the UBS may be used.

On this point the court ruled in the case of the second public-law division of the Federal clear unanimity. The first instance judgment in France against the UBS is not yet final and, therefore, UBS is worried that the news of the mutual assistance request could be used against you.

Not the same opinion was expressed by the judges, however, on the question of whether it is at the request of the French tax authority for a total of 40’000 account numbers to a forbidden fishing expedition or not.

The minority of the judges argued that the French authority had not supplied sufficient information, that a law may have been unlawful conduct. While on the first of the three by the French supplied the lists of names are available, there are two other lists of only Bank account numbers.

Tests by the French tax authority had revealed that from the first controlled-thirds of the first list, half of the persons listed had not taxed your assets correctly. They concluded that the other two lists of tax evaders are.

This is the conclusion of the minority of the judges is not allowed. Otherwise it looked the prevailing majority. For them, it was clear that a behavior was a pattern, which is not sufficient for the granting of administrative assistance. Also, the majority looked the other criteria for the granting of the assistance to be fulfilled.

the highest swiss court decides that they must deliver client details to french tax authorities

at least 1/3 of money is black money as you can expect

meanwhile UBS crooks wait for their 5b fine for tax evasion

Swiss banking is dead as of today





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