UBS settlement: brass tax

Uncle Sam has shown its might in the UBS settlement. The country achieves the key aims of its lawsuit seeking to expose suspected tax dodgers among the Swiss bank’s clients, and collect on their wrong-doing. Swiss officials are to provide the US Internal Revenue Service with details related to 4,450 UBS bank accounts, which at their peak held some $18bn. The Swiss will also stretch their resources to gather the information in a race against further US action. The IRS isn’t relenting yet – and ot...