In April 2013, the US Internal Revenue Service (IRS) submitted a request for administrative assistance to the Swiss Federal Tax Administration (FTA) pursuant to the 1996 double taxation treaty between Switzerland and the USA in April 2013, seeking information regarding accounts of domiciliary companies belonging to certain US persons as beneficial owners (‘treaty request’).
In connection with this IRS treaty request, the FTA has ordered Bank Julius Baer & Co. Ltd. to submit the respective account information to the FTA. Persons concerned will have the right to appeal against an order of the FTA granting assistance to the Swiss Federal Administrative Court.
All client enquiries regarding the administrative assistance proceedingsn should be sent to:
Bank Julius Baer & Co. Ltd.