Amending Protocol to Treaty Request Agreement UBS-USA Signed; Provisional Application Allows Obligations Under International Law to be Fulfilled
Bern, 31.3.2010 - On Wednesday the Federal Council approved the amending protocol which revises the UBS Agreement. The protocol was signed the same day in Washington. The provisional application of the revised UBS Agreement creates the necessary legal basis for the Swiss Federal Tax Administration (SFTA) to issue final decisions even in cases of continued and serious tax evasion, and permits Switzerland to fulfill the obligations under international law that it entered into with the original Agreement.