The national council of Switzerland, equivalent to our Chamber of Deputies, has rejected with a strong majority the request to urgently discuss the tax law requested by the United States to regulate Swiss banks that had received the assets of American citizens not declared to the US tax authorities . Since this is the second rejection, the law, known as Lex Usa, is definitively scuttled.
There are currently 12 Swiss banks in the crosshairs of US justice accused of having accepted undeclared American capital into their coffers and all risk exorbitant fines. There are therefore fears of a new Wegelin case, the Swiss bank that paid a fine of 58 million dollars to the US tax authorities.
