Navigation

Skiplink Navigation

Main Features

Julius Bär agrees to settle German tax dispute

Swiss private bank Julius Bär has agreed to pay €50 million (SFr65 million) to German authorities to settle a tax evasion dispute.

German tax authorities initiated their investigation into undeclared assets subject to taxation following voluntary disclosures by the clients concerned and other information they had collected, the bank said in a statement on Thursday.

The one-off payment was agreed by both sides to avoid lengthy legal proceedings, Julius Bär said.

“This will end the investigations against Julius Baer and unknown employees regarding undeclared assets of persons who are subject to taxation in Germany,” the bank said.

swissinfo.ch


Links

subscription form

Form for signing up for free newsletter.

Sign up for our free newsletter and get the top stories delivered to your inbox.

×