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Swiss upper house approves UBS tax deal with US (Extra)
Jun 3, 2010, 12:30 GMT
Geneva - The Swiss upper house of parliament approved Thursday the deal between Bern and Washington on the transference of UBS client data to the United States.
Voting in the smaller body, the Council of States, went smoothly for the government, and the house gave approval by 31 votes in favour and 12 against, the ATS news agency reported.
In a separate vote, the lawmakers in Bern said that the matter would not be subjected to a public referendum, as it was a one-off piece of legislation and not a change to the core law.
The deal, which would see the most severe lifting of Swiss banking secrecy since it was legislated in 1934, still has to pass the 200-member lower house, or National Council, on Monday.
Switzerland last summer said it would pass data on some 4,500 clients of UBS who are accused of tax evasion or fraud to the US taxman, but the deal has been caught up in courts and with the legislators.
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