GENEVA: UBS Group AG has ended a legal fight with the Internal Revenue Service (IRS), agreeing to hand over records on a US client’s account in Singapore as US authorities seek to move beyond Switzerland in their fight against offshore tax evasion.
The IRS on Feb. 23 asked a federal judge in Miami to force UBS to produce documents on Hsiaw Ching-ye, who lives in China. UBS last month reached an agreement with the IRS and has handed over all the records sought by the US, according to a court filing.
