UBS to pay $55.7 million to settle Belgian tax evasion case
Swiss bank UBS agreed to pay 49 million euros ($55.7
million) to settle a case of alleged tax evasion dating back to the period of
2005 to 2013, Belgian prosecutors said on Thursday.
The settlement concerns the alleged presence in Belgium of
UBS employees and the alleged facilitation of tax evasion for Belgian UBS
clients, Brussels prosecutors said in a statement.
Authorities dismissed charges of money laundering and
forming of a criminal organisation as well as all charges against former UBS
Belgium head Marcel Bruehwiler, the prosecutors said.
“For UBS AG, the transaction puts an end to a long procedure
relating to alleged facts dating back more than ten years, and this without any
admission of guilt,” the prosecutors said.
UBS confirmed the settlement and said it was pleased to have
resolved the legacy matter. A spokesman said the bank had already made
provisions for the settlement.
Comments
Post a Comment