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UBS pays €835m to settle French tax dispute

Wealth Management

Wealth Management Correspondent

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UBS has agreed to pay €835m to settle a long-running case in France over its role in helping rich clients evade taxes.

The Swiss wealth manager has agreed to pay a fine of €730m ($857m) and €105m in civil damages to the French state, it said in a statement on 23 September.

The Swiss bank was initially slapped with a €4.5bn penalty in 2019 over its role in helping rich clients evade taxes

Kristen McGachey

Banking

Europe

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