Notification from the FTA of 25 June 2019 (FF 2019 4211)
The Ministry of Finance of Israel requests the FTA for administrative assistance.
This request is based on the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (entered into force on January 1st, 2017 as regards Switzerland) and not on the double tax agreement concluded between Switzerland and Israel since this agreement does not include the OECD standard in matter of exchange of information upon request.
Information requested are related to natural persons whose names are unknown and who fulfil all the following criteria during the time period from 1 January 2014 to 31 December 2017:
- The person was an account holder of an account with United Private Bank, UBP Ltd.;
- The account holder had a domicile address in Israel;
- United Private Bank, UBP Ltd. sent a letter to the account holder in order to request the account holder to provide the bank within the set deadline with the form « Statement of tax compliance »;
- Despite of this letter, the account holder did not provide United Private Bank, UBP Ltd. with sufficient evidence of his/her tax compliance with regards to the account.
The persons concerned have to provide the FTA with their current Israeli or Swiss address, or to designate a representative to receive service in Switzerland within 20 days following the day of the publication in the Federal Gazette (25 June 2019). Then, the validity of the request and the opportunity to transfer the information will have to be studied on a case by case basis.