UBS to pay $ 55.7 million to settle Belgian tax evasion case

0

The logo of Swiss bank UBS can be seen in a branch in Zurich, Switzerland on June 22, 2020. REUTERS / Arnd Wiegmann

Register now for FREE and unlimited access to reuters.com

Register now

ZURICH, Nov. 18 (Reuters) – Swiss bank UBS (UBSG.S) has agreed to pay 49 million euros ($ 55.7 million) to settle an alleged tax evasion case dating back to the period 2005-2013 , Belgian prosecutors announced Thursday.

The deal concerns the alleged presence in Belgium of UBS employees and the alleged facilitation of tax evasion for Belgian clients of UBS, Brussels prosecutors said in a statement.

Authorities have dismissed charges of money laundering and forming a criminal organization as well as all charges against former UBS Belgium president Marcel Bruehwiler, prosecutors said.

Register now for FREE and unlimited access to reuters.com

Register now

“For UBS AG, the transaction ends a long process relating to alleged facts dating back more than ten years, without any admission of guilt,” prosecutors said.

UBS confirmed the settlement and said it was happy to have resolved the inheritance case. A spokesperson said the bank has already made arrangements for the settlement.

($ 1 = € 0.8794)

Register now for FREE and unlimited access to reuters.com

Register now

Reporting by Oliver Hirt, written by Silke Koltrowitz; Editing by Steve Orlofsky

Our Standards: The Thomson Reuters Trust Principles.


Source link

Share.

Comments are closed.