UBS-USA: the Federal Tax Administration has issued the initial 500 conclusive decrees and sent them off
Bern, 24.11.2009 - Within the scope of a request for administrative assistance from the US tax authorities, the Federal Tax Administration (FTA) has already processed over 500 cases. The respective conclusive decrees to UBS clients have been issued and sent off. The first deadline has thus been complied with in accordance with the agreement with the USA.
In the agreement of 19 August 2009 between Switzerland and the USA, it was also stipulated that upon receipt of the request for administrative assistance (on 31 August 2009) the FTA had 90 days to issue the initial 500 decrees. This deadline expires at the end of November. The remainder of the approximately 4,450 dossiers overall must be processed by the FTA within 360 days after receipt of the request for administrative assistance.
The remaining conclusive decrees will be continuously completed and sent off. After receipt of the conclusive decree, the party concerned may file an appeal within 30 days with the Federal Administrative Court. The Federal Administrative Court will make a final decision at a later date.
The FTA has, up to now, still not granted the US tax authorities administrative assistance in the 4,450 cases. The FTA will only provide administrative assistance if no appeal is lodged against its conclusive decrees with the Federal Administrative Court within 30 days. Administrative assistance will also be provided by the FTA if an appeal is filed but is rejected by the Federal Administrative Court.
Address for enquiries
Beat Furrer, Head of FTA Communications, tel. 031 324 91 29
Federal Department of Finance