The high profile US-UBS case, which dealt a blow to the famed Swiss banking secrecy practices, also triggered similar requests from other countries, including India for details of secret bank accounts held by their respective citizens.
Swiss authorities and their US counterparts had entered into an agreement on August 2009 to share account details of about 4,450 UBS clients, a deal that followed a lawsuit by American authorities against Swiss banking giant UBS.
The Swiss Federal Department of Finance on Thursday said the Federal Tax Administration (FTA) has concluded its administrative assistance examination relating to approximately 4,450 UBS client dossiers.
"In so far as the decisions of the FTA are legally binding, the data was supplied to the US. This occurred in around half of the cases," the Department of Finance said in a statement.
Swiss and the US authorities are discussing about implementation of the final stage of the agreement.
"(We) are optimistic that the US authorities will receive most of the agreed account information within a reasonable period of time and that the US authorities will definitively withdraw civil action against UBS," the statement noted.
The landmark UBS deal has also intensified international pressure on Swiss banks, considered to be a safe haven for stashing unaccounted money by rich people around the world.
The US started to act against UBS in 2008 and had alleged that the Swiss major helped American clients in evading tax. The American authorities had also slapped a fine of USD 780 million on UBS.India has completed talks with Switzerland to amend their bilateral tax treaty, which would pave the way for authorities here to seek details of illicit wealth stashed away by Indians in Swiss banks