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Credit Suisse, Other Swiss Banks Summoned To Explain Tax Evasion Actions

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CREDIT SUISSE
AP

ZURICH - Swiss banks accused of helping Americans to dodge taxes have been summoned to a parliamentary committee hearing this week at which they will be asked to explain their actions, Swiss newspaper NZZ am Sonntag reported on Sunday.

Credit Suisse (CSGN.VX), Julius Baer (BAER.VX) and Basler Kantonalbank (BSKP.S) have all been called to answer questions, the newspaper reported, citing documents from the Foreign Affairs Committee of the lower house.

The hearing is set to take place on Monday and Tuesday, the newspaper said.

Representatives from the banks will be asked to explain which rules they used for their business with private U.S. clients in America and Switzerland.

The United States has been pushing for Switzerland to supply information on bank clients who may have evaded taxes.

Credit Suisse (CSGN.VX) is the target of a formal U.S. investigation. U.S. authorities are also looking into whether smaller Swiss private banks and cantonal banks, including Basler Kantonalbank and Julius Baer helped wealthy Americans dodge taxes.

(Reporting by Katie Reid; Editing by Sophie Walker)

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