Ellen's Swiss News World
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ZURICH, SWITZERLAND – Zurich’s mayor has become the latest celebrity in Switzerland to have the US Embassy in Bern punch holes in her passport as she gives up her US citizenship. Corinne Mauch, 52, was born in Iowa City, Iowa with dual Swiss-US citizenship, and she spent her early years in the Midwest. She has [...]
Bern says signing seen as “positive signal” by the US for sorting out past banking problems BERN, SWITZERLAND – Switzerland and the United States signed the Fatca tax accord in Bern Thursday morning 14 February, a day after the Federal Council gave the green light for State Secretary Michael Ambuehl to do so. “Initialled on [...]
NY tribunal opens procedure against Switzerland’s largest bank for correspondent role Parliament: both houses’ oversight committees want to hear bank surveillance body on Libor scandal ZURICH, SWITZERLAND – Legal woes with US justice authorities are not over for UBS, with new legal proceedings in New York opened Monday 28 January against the bank to investigate [...]
GENEVA, SWITZERLAND – There’s a better way for the IRS, the US tax office, to collect money, a group of US citizens says, noting that it is “alarmed and vexed” at costly and cumbersome Fatca legislation the US is enacting. Its suggestions were unveiled Saturday in London. American Citizens Abroad (ACA), based in Geneva but [...]
President Widmer-Schlumpf: deal initialed Monday BERN, SWITZERLAND – The US and Switzerland have initialed an agreement covering Fatca, the US foreign account tax compliance act that goes into effect in 2013, Bern announced late Tuesday afternoon 4 December. A key success for the Swiss has been ensuring that small, primarily local banks can be excluded [...]
ZURICH, SWITZERLAND – A startling Thanksgiving Day gift awaited Americans in Switzerland, green card holders and even non-US spouses of Americans who have bank accounts with UBS. The Swiss bank sent out American IRS W-9 forms (taxpayer identification), asking clients to sign these, as well as a form where they agree to renounce protection under [...]
BERN, SWITZERLAND – The Swiss Federal Council Wednesday 10 October said that Swiss banking secrecy laws and the “Qualified Intermediary Agreement” with the United States that went into effect in 2001 remain compatible. The question was raised in parliament and by Swiss media after a number of Swiss banks under investigation by the US Department [...]
ZURICH, SWITZERLAND – Bradley Birkenfeld, released on good behaviour from a US prison 1 August (the Swiss national holiday) after 2.5 years of his 40-month sentence for failing to disclose his part in tax fraud (conspiracy to defraud) crimes, has been awarded $104 million for blowing the whistle on US clients of bank UBS. Birkenfeld’s [...]
BERN, SWITZERLAND – The new “framework” agreement published jointly by the US and Switzerland Thursday 21 June opens the door to negotiations but is not yet a deal with clear regulations: for now it provides signposts for US citizens living in Switzerland to where tax compliance for the IRS is headed. The framework is designed [...]
GENEVA, SWITZERLAND – Americans living in Switzerland have been abuzz for months with stories about fellow citizens who were starting to have trouble with their Swiss banks closing accounts. Some of the first stories were shared at a Town Hall meeting at Webster University in 2011, organized by American Citizens Abroad. Rumours and innuendo have [...]
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