Where has the time gone
26 March 2017 09:06 (South Africa)

Swiss parliament backs US-UBS tax deal

  • Andy Rice
    andy rice
    Andy Rice

    Andy Rice is a founding partner of Yellowwood Future Architects, a marketing strategy consultancy. In his other lives, he is the southern hemisphere's only supporter of Cambridge United Football Club, and was once upon a time the South African National Spoofing Champion. He has played football at Wembley and cricket at Lord's within the same weekend, but troubled the scorer on neither occasion. Things could only go up from here.

Swiss tax authorities will hand over the details of the accounts of 4,450 UBS clients to the US. These clients are accused of stashing their money in secret Swiss bank accounts to avoid paying taxes. Parliament had to give the deal its approval, as a legal loophole had prevented the data being handed over before now. If the parliament had taken much longer to pass the deal, this would've broken the terms of the US-Swiss tax treaty, and could've sparked a diplomatic incident. Read more: Reuters

  • Andy Rice
    andy rice
    Andy Rice

    Andy Rice is a founding partner of Yellowwood Future Architects, a marketing strategy consultancy. In his other lives, he is the southern hemisphere's only supporter of Cambridge United Football Club, and was once upon a time the South African National Spoofing Champion. He has played football at Wembley and cricket at Lord's within the same weekend, but troubled the scorer on neither occasion. Things could only go up from here.

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