Schweizerischer Bankenombudsman -

среда, 21 марта 2018 г.

UBS: TROUBLES IN ISRAEL


The Israeli tax authorities are targeting further clients of Swiss bank UBS in the quest to fight tax dodging. And that in a country that figured as an Eldorado for private bankers.

The chase for tax cheats with accounts at Swiss banks is widening. The Israeli tax authorities have charged 11 more citizens on accounts of tax fraud, according to a report by «Globes» newspaper.

Businessmen, lawyers and also the owner of a clinic figure among the suspects. They stand accused of having hidden accounts at UBS.



The so-called UBS affaire is widening. Tax investigators reportedly have a list containing a thousand names with undeclared assets measuring up to hundreds of millions of U.S. dollars. Alongside UBS stands Anglo-Chinese bank HSBC as host of accounts kept from the authorities of the Middle Eastern country.

Israel is a country often described as Eldorado for private banking. UBP, the Geneva-based bank, this year added to its team of relationship managers, while J. Safra Sarasin has positioned itself as a launching pad in the country.

«UBS is strictly adhering to Israeli and Swiss regulation and is not part of investigations,» the Swiss bank said in a statement on Monday. «Together with customers from Israel, UBS completed a program to establish tax conformity and is implementing the automatic exchange of information as the new international standard. With this step, as one of the first in the industry, the bank has asked its customers to provide the documents of tax disclosure.»

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