USA: 104 million dollar reward for the UBS whistle-blower
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USA: 104 million dollar reward for the UBS whistle-blower


01/10/2012

The US tax authority (IRS) paid a reward of 104 million dollars to Bradley Birkenfeld, the banker who provided information on the UBS bank’s American clients. Birkenfeld provided the American authorities with internal banking information which would have been impossible to discover from outside. Following the “whistle-blower’s” actions, UBS paid the USA a fine of 780 million dollars. He revealed the foreign banking relations and details of bank accounts opened in offshore jurisdictions of 35 000 American taxpayers. As a result so far the USA has collected 5 billion dollars in additional taxes. The Americans put considerable pressure on the Swiss government, and consequently the Swiss handed over the details of a further 4 900 American taxpayers. The two countries are also renegotiating the terms of their existing agreement for the avoidance of double taxation.

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