Federal Council to Analyze Federal Administrative Court ruling

Keywords: Taxes | Financial Market

Bern. The Federal Council has acknowledged that, in a landmark ruling on January 21, 2010, the Federal Administrative Court upheld an appeal against the grant of assistance to the USA on the basis of the Swiss-US Agreement of 19 August 2009 on the UBS affair. Further to an initial analysis by the Federal Department of Justice and Police (FDJP), the Federal Council will decide next Wednesday how the execution of the Swiss-US Agreement can be ensured in the light of the Federal Administrative Court's ruling.

The Federal Council approved the Agreement with the USA last summer following a thorough review, and on the basis of opinions on tax law and international law prepared by internal and external experts. The Federal Council's aim with the Swiss-US Agreement was to find a proper constitutional solution to resolving the threatened conflict between the Swiss and US legal systems, to preventing a breach of Swiss sovereignty, and to handling the UBS affair.

For the complete documentation see the pages in German, French or Italian