UBS gives IRS records on US citizen's account in Singapore
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[NEWARK] UBS Group AG has ended a legal fight with the Internal Revenue Service, agreeing to hand over records on a US client's account in Singapore as American authorities seek to move beyond Switzerland in their fight against offshore tax evasion.
The IRS on Feb 23 asked a federal judge in Miami to force UBS, the largest Swiss bank, to produce documents on Ching-Ye Hsiaw, who lives in China. UBS reached an agreement with the IRS last month and has handed over all the records sought by the US, according to a court filing.
BLOOMBERG
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
