Lessons Learned from the Swiss Julius Baer Case
9 Pages Posted: 3 Feb 2016
Date Written: June 30, 2014
This paper analyses the impact of a recent decision of the the Swiss Federal Administrative Court [Bundesverwaltungsgericht] denying the disclosure of bank account data to the IRS in light of "group requests" made in application of Article 26 of the U.S.-Swiss Confederation DTT and the new FATCA intergovernmental agreements. The author argues even though the entry in force of the 2009 Protocol (on hold in the U.S. Senate) could change the traditional Swiss distinction between tax fraud and tax evasion for tax treaty purposes, the historic limitation on "fishing expeditions" will still circumscribe the limits on the group requests and the information exchange under FATCA.
Keywords: Group requests, FATCA, Exchange of Information, Fishing Expeditions, Data protection, Double Tax Treaties
JEL Classification: H25, H26, H77, H88, K33, K34
Suggested Citation: Suggested Citation