UBS clients disclose unpaid taxes

More than 50 Canadian clients of Swiss bank UBS have come forward to disclose unpaid taxes, and investigations so far have found C$7m (£3.9m) in unreported income, Canada's tax authority said yesterday. The voluntary disclosures follow a high-profile investigation of UBS by US authorities, who accused the bank of using Switzerland’s banking secrecy laws to help wealthy clients avoid paying taxes.