ZURICH: At least 10 Swiss banks have withdrawn from a United States programme aimed at settling a tax dispute between them and the US, Swiss newspaper NZZ am Sonntag said yesterday, quoting unnamed lawyers and auditors.
Around 100 Swiss banks came forward at the end of last year to work with US authorities in a programme brokered by the Swiss government to help the banks make amends for aiding tax evasion.
“At least 10 banks that had decided at the end of last year to pay a fine have withdrawn their decision,” NZZ am Sonntag said.
It did not name the banks concerned.
The newspaper said the banks were convinced they had not systematically broken US law and lawyers of the US Department of Justice had actually been surprised to see them take part in the programme and did not object to the banks leaving the programme.
Liechtenstein-based VP Bank came forward last week to say it had concluded that it no longer needed to take part in the programme.
About a dozen Swiss banks face US crimi-nal investigations as part of the tax probe. Reuters