The United States Justice Department has received request from additional 106 Swiss banks to participate in the tax probe brokered by the Swiss and US governments.
According to Kathryn Keneally, the top US tax prosecutor, not all the entities might be banks and would thus not be eligible.
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However, Keneally declined to comment on the amnesty programme after speaking to the American Bar Association’s taxation section.
The effort is part of a US crackdown on American tax evaders and to lift the veil of Swiss bank secrecy. In 2009, this led to UBS paying US$780 million in a settlement where the bank agreed to hand over US client names with secret Swiss accounts.
The Justice Department is currently probing 14 major Swiss financial institutions — including Credit Suisse, Julius Baer and the Swiss arm of HSBC — for shielding US tax cheats.
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