The Austrian Authorities Have Requested Information On UBS Account Holders Resident In Austria

The Austrian authorities have requested information from the Swiss Federal Tax Administration on UBS account holders resident in Austria, to check if UBS clients fulfilled their tax obligations under Austrian law. According to a notice published today, any person holding an account or who was the beneficial owner of such an account between 2006 and 2008 shall contact UBS.

BACKGROUND

In a letter dated 16 February 2017, the Austrian tax authorities requested information regarding UBS account holders resident in Austria who have/had UBS accounts or are/were beneficial owners of such UBS accounts based on article 26 of the Convention between the Swiss confederation and Austria for the avoidance of double taxation with respect to taxes on income and on capital. The lists of clients were reportedly obtained by Germany who shared this information with other countries. Similar requests were filed by other European countries last year and this year.