CMS von Erlach PoncetAG on 26th February published a briefing which said that on December 18th the Federal Supreme Court rendered a landmark decision preventing the Swiss Federal Tax Administration (SFTA) from transmitting un-redacted bank files to the US IRS which contained information on third parties which had allegedly helped a US taxpayer to defraud the IRS, ad that that the names of bank employees and the attorney/notary who were involved with the setting up and management of the account, and likewise other information that would allow identification of those individuals, needed to be redacted. The article says that this decision comes as a surprise and marks a turning point in the protracted and heated discussion about the extent of information that the IRS may obtain by way of administrative assistance under the US-Switzerland Double Taxation Treaty. Â What is of particular interest to white collar crime practitioners, it says, is the emphasis put on the distinction between administrative assistance in tax matters versus legal assistance in criminal matters.
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