Israel seeks Swiss help in identifying undeclared accounts
The Geneva-based UBP (Union Bancaire Privee) says it is cooperating with Swiss authorities.
Keystone / Salvatore Di Nolfi
Swiss authorities are considering a request from the Israeli finance ministry for assistance in identifying Israelis with undeclared assets at two Swiss private banks.
This content was published on
2 minutes
swissinfo.ch-Reuters/gw
The Geneva-based Union Bancaire Privée (UBP) said on Wednesday it is cooperating with the Swiss Federal Tax Administration, Reuters reported on Wednesday. The other bank targeted, Julius Baer, did not comment.
The Swiss tax office is currently seeking contact information for account holders and giving the banks 20 days to provide the data. It will then decide whether it can provide assistance to Israel.
According to documents published in the Swiss Federal Register on Tuesday, the Israeli finance ministry is attempting to identify citizens who held accounts at UBP between 2014 and 2017 and who did not show they had fully met their tax obligations.
Reuters reported that a similar document showing Israeli interest in accounts at Julius Baer was made public earlier this month.
Switzerland has signed agreements with a number of countries, including Israel, for the automatic exchange of banking information following international pressure to crack down on offshore assets. The agreements mean that Swiss banks must share details on foreign clients with the tax office, which then passes the data on to these partner states.
In the case of Israel, the automatic exchange of information entered into force on January 1, 2019. The current investigation, dealing with financial information from before this date, was raised as a specific request for administrative assistance.
More
More
UBS to appeal record €3.7 billion French tax fraud fine
This content was published on
A French court on Wednesday found Swiss bank UBS guilty of illicit solicitation and laundering of the proceeds of tax fraud, imposing a hefty fine of €3.7 billion (CHF4.2 billion).
Media: Swiss medical services done abroad are billed at Swiss rates
This content was published on
In Switzerland, some medical services carried out abroad are still billed at Swiss rates, despite costing less, RTS reports.
This content was published on
Sophie Hediger, a member of the Swiss national snowboard cross team, has died in an avalanche in Arosa. She was 26 years old.
This content was published on
Several Swiss films exceeded the 100,000 admissions mark worldwide in 2024 and received widespread praise at international film festivals.
Swiss Alpine resorts covered in white gold for Christmas
This content was published on
Many areas at low altitudes in Switzerland are enjoying a blanket of snow. In the mountains, intense precipitation has delighted skiers.
SWISS makes emergency landing in Austria after smoke in cockpit
This content was published on
Swiss International Airlines (SWISS) made an emergency landing of an Airbus in Graz, Austria on Monday evening after engine problems.
L’Oréal acquires South Korean subsidiary of Migros’ cosmetics brand
This content was published on
French cosmetics firm L'Oréal is acquiring Gowoonsesang Cosmetics, the South Korean subsidiary of the Migros-owned Mibelle group, for an undisclosed sum.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
PKB private bank officials under investigation for fiscal fraud
This content was published on
Eighteen managers at the Swiss private bank PKB Privatbank in Lugano are being investigated in Italy for fiscal fraud and money laundering.
Tax amnesty programme turns up billions in undeclared assets
This content was published on
According to the results of a survey, CHF31.7 billion in undeclared assets have been reported to Swiss tax authorities over the last eight years.
This content was published on
Hervé Falciani, convicted in absentia by the Swiss Supreme Court in 2015, still sees himself as a whistleblower who has been wronged.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.