Last week, Swiss bank BSI SA became the first bank to reach a resolution under a voluntary disclosure program for tax-related offenses run by the Justice Department. Swiss bank BSI has reportedly said that it expects to strike more non-prosecution agreements with Swiss banks over cooperation regarding US investigations into tax evasion by US citizens; a number of non-prosecution agreements are expected to be signed in the “very near future”. The US Department of Justice became the first bank to settle under the voluntary disclosure agreement the end of this calendar year , paying a $ $780 million penalty.
Swiss bank BSI has reportedly said that it expects to strike more non-prosecution agreements with Swiss banks over cooperation regarding US investigations into tax evasion by US citizens; a number of non-prosecution agreements are expected to be signed in the “very near future”. The US Department of Justice became the first bank to settle under the voluntary disclosure agreement the end of this calendar year , paying a $ $780 million penalty.