© Reuters. FILE PHOTO: The emblem of Swiss financial institution UBS is seen at a department workplace in Zurich, Switzerland, June 22, 2020. REUTERS/Arnd Wiegmann
ZURICH (Reuters) – Swiss financial institution UBS agreed to pay 49 million euros ($55.7 million) to settle a case of alleged tax evasion relationship again to the interval of 2005 to 2013, Belgian prosecutors mentioned on Thursday.
The settlement considerations the alleged presence in Belgium of UBS staff and the alleged facilitation of tax evasion for Belgian UBS purchasers, Brussels prosecutors mentioned in an announcement.
Authorities dismissed costs of cash laundering and forming of a prison organisation in addition to all costs in opposition to former UBS Belgium head Marcel Bruehwiler, the prosecutors mentioned.
“For UBS AG, the transaction places an finish to an extended process referring to alleged info relationship again greater than ten years, and this with none request for forgiveness,” the prosecutors mentioned.
UBS confirmed the settlement and mentioned it was happy to have resolved the legacy matter. A spokesman mentioned the financial institution had already made provisions for the settlement.
($1 = 0.8794 euros)
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