September 23, 2025|
AI
|2 months agoUBS Settles French Tax Dispute with €835 Million Payment
Swiss banking giant UBS concludes long-running French tax case with substantial settlement, agreeing to pay €835 million to resolve disputes dating from 2004-2012.
AI
Generated IllustrationKey Takeaways
AI
- UBS has agreed to pay a total of €835 million to settle its tax dispute with France.
- The settlement covers allegations of illicit activities dating from 2004 to 2012.
- The payment is split into a €730 million fine and €105 million in civil damages.
- UBS was previously convicted in 2021 for aggravated tax fraud and illegal canvassing.
- The French Court of Cassation upheld the guilt verdict in late 2023.
By The Numbers
€835 million
Total Settlement Amount
CHF 780.7 million
Settlement Amount (Swiss Francs)
€730 million
Penalty Portion
€105 million
Damages Portion
They Said
"UBS has set aside the necessary provisions to meet these costs."