Switzerland will prevent Swiss bank UBS from handing over bank client information to US tax authorities, which would breach Swiss law, the Justice Ministry said yesterday.
US authorities have asked UBS to hand over information on 52,000 Americans holders of secret bank accounts in Switzerland suspected of dodging US taxes.
A court hearing on the case starts in Miami on July 13.
"Swiss law prohibits UBS from complying with a possible order by the court in Miami to hand over the client information," the Swiss justice ministry said in a reply to the US authorities posted on its website.
"All the necessary measures should be taken to prevent UBS from handing over the information on the 52,000 account holders demanded in the US civil proceeding."
Keep up with the latest business news from the region with the daily Emirates Business 24|7 newsletter. To subscribe to the newsletter, please click here.