UBS Clients Evaded 204 Million Euros Tax
Worldwide, Daily news | ankakh | December 5, 2012 12:27
German clients of Swiss bank UBS evaded around 204 million euros ($267 million) in taxes, the prosecutors’ office in Bochum said on Tuesday.
The undeclared funds were revealed after a data CD bought for 3.5 million euros by authorities in North-Rhine Westphalia was evaluated, uncovering data on investments worth more than 3.5 billion Swiss francs (2.3 billion pounds).
“As part of the investigation we are looking at whether bank employees helped clients evade taxes,” the prosecutor said.
A UBS spokesman said the bank did not support efforts by clients to evade taxes.
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