U.S. sets ultimatum in Swiss bank tax dispute: reports | Reuters

U.S. sets ultimatum in Swiss bank tax dispute: reports | Reuters:

By Emma Thomasson

ZURICH | Sun Sep 4, 2011 6:48am EDT

(Reuters) - The United States has written to Switzerland to demand it hands over detailed information this week on its citizens using Swiss accounts to dodge tax or see Credit Suisse and nine other banks face charges, newspapers reported on Sunday.

The letter, quoted by two Swiss Sunday papers, was sent by U.S. Deputy Attorney General James Cole on August 31 and demands detailed figures on tax evasion at Credit Suisse by Tuesday and also seeks information from nine other smaller Swiss banks.

In the letter, Cole demands that Switzerland quickly deliver a significant number of client accounts, the SonntagsZeitung reported, adding that U.S. authorities are also ready to examine a Swiss offer to settle the dispute.

Mario Tuor, a spokesman for the Swiss department for international financial affairs, would only say that Switzerland was in contact with the United States but declined to comment on the letter.

"We are seeking a solution on the basis of existing laws," he said.

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