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Italian tax agency seeks data on UBS clients

The Italian tax agency is seeking the names of Italian residents who held Swiss accounts with UBS Group AG between 2015 and 2016 and who failed to provide evidence that their accounts were tax compliant, Bloomberg News reported, citing the Swiss Federal Gazette.

The agency had asked Swiss officials in December 2018 for information about possible tax evasion by UBS, the report noted.

"Over the last years, UBS has received various disclosure orders from the Swiss Federal Tax Administration based on requests for international administrative assistance in tax matters," UBS said in a statement emailed to Bloomberg.

The Swiss lender has been entangled in global tax crackdowns over the last 10 years.

In June it agreed to pay €101 million to settle a tax evasion case in Italy. In February, it was fined a record total of €4.5 billion after a French court ruled that it was guilty of aiding and abetting tax fraud.