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France: UBS under investigation for allegedly facilitating tax avoidance; company says it is fully cooperating with authorities

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Article
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Author: Sud Ouest [France]

La filiale française de la banque suisse UBS…est actuellement visée par une information judiciaire ouverte à Paris pour démarchage illicite et blanchiment de fraude fiscale. UBS France…est soupçonnée d’avoir servi de support dans les années 2000 aux activités des chargés d’affaires helvétiques venus dans l’Hexagone pour convaincre des contribuables aisés de transférer leurs avoirs sur les bords du lac Léman sans forcément les déclarer. L’enquête menée par les juges d’instruction…a permis d’établir une liste de 353 personnes susceptibles d’avoir cédé aux sirènes d’UBS…[L]e ministère de l’Économie et des Finances aurait adressé à la Suisse quatre demandes d’entraide fiscale, de façon à vérifier si ces contribuables détenaient un compte chez UBS…

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Article
18 April 2013

French tax probe eyes 353 prospective UBS clients: source

Author: Gerard Bon & Lionel Laurent, Reuters

France has contacted Swiss authorities for help in determining whether 353 prospective UBS clients in France have undeclared assets in Switzerland...as part of an ongoing French probe into UBS's business practices and whether the bank offered illicit products that would avoid tax...Le Monde said the French Budget Ministry confirmed the existence of the probe and said 850 million euros ($1.1 billion) were at stake...UBS France's head, Jean-Frederic de Leusse, told the newspaper the bank was cooperating fully with the authorities...UBS is still being probed by the French judiciary over whether it offered potential French clients investments that were allegedly designed to cheat the taxman. Three UBS France executives are being investigated as part of the probe, a judicial source told Reuters.

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Article
24 January 2013

Tax avoidance - an introduction

Author: compiled by Business & Human Rights Resource Centre

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