As a Credit Suisse buyer, UBS has entered into an amicable agreement with the American justice department (DOJ) for a tax case dating back to 2014. The number one Swiss banking agreed to pay $ 511 million.
When Credit Suisse had agreed to pay the sum of $ 2.6 billion in 2014, a non-pasture agreement (“not prosecution agreement) had been concluded, that the bank did not respect. Credit Switzerland Services has indeed helped American taxpayers again to remove income and fortune on off-shore accounts, said the doj on Monday evening. $ 371.9 million, noted UBS in a separate statement.
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Simultaneously, a non-pasture agreement was concluded for cases which had been recorded in the old Credit Swiss Credit Center Singapore in relation to customers subject to American tax. For this, an amount of 138.7 million will be paid.
CS Services admitted to having hidden from the American tax authorities for more than $ 4 billion in at least 475 off-shore accounts, said the DOJ. Recognition of guilt is the result of surveys of several years carried out by the American taxman.
>> Credit Suisse acknowledged in 2014 that he was guilty of assistance in tax evasion:
Uncorporated accounts
Between 2014 and June 2023, Credit Switzerland Singapore held accounts for taxpayers which she should have known that they were subject to American tax for more than $ 2 billion.
>> A lire : Fine record for Credit Suisse which pleads guilty in the United States
After the takeover by UBS, the latter discovered these unorganized accounts and informed the Department of Justice, collaborating with the authorities. The three keys Bank is committed to cooperating as part of other current surveys and providing all information on American accounts that could still be discovered in the future.
UBS Group provides for a sum resulting from the partial dissolution of possible commitments which had been set up within the framework of the Credit Suisse acquisition price. The solution with the doj will be charged to the second quarter.
UBS, which resumed Credit Suisse in 2023, specifies that it was not involved in these cases and that it practices zero tolerance in matters of tax fraud. She is delighted with the agreement and to have thus settled a former charge of Credit Suisse.
>> A lire : UBS bought Credit Suisse for 3 billion francs. Objective: “Restore confidence”
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