Switzerland approves UBS tax treaty
Swiss lawmakers approved a UBS AG tax treaty, ending a two-year legal battle with the US that threatened the bank's American operations.
Switzerland on Tuesday signed a revised double taxation agreement with Luxembourg, easing the restrictions on the exchange of tax information between the two countries.It is the second of 12 such agreements Switzerland needs to sign in order to be removed from the ``grey list'' of tax havens established in April by the Organisation of Economic Co-operation and Development.