TAX NEWS - June 2010

Switzerland Put On Tax Haven Blacklist By Brazil

ZURICH -(Dow Jones)- The Swiss government Monday said Switzerland has been placed on a blacklist of tax havens by Brazil.

"Switzerland's ambassador in Brazil has been tasked with expressing our surprise and to gain more information about why Switzerland has been placed on a blacklist," government spokesman Daniel Saameli said.

According to weekend media reports, the move is linked to the Swiss parliament's handling of a settlement between UBS AG (UBS) and U.S. officials over confidential data on suspected tax offenders with hidden offshore accounts in Switzerland.