French commerce

The best history of the French dispatch reveals the violence between art and commerce

Rosenthaler hesitates to sell the painting, Simone Naked, Cell Block J Hobby Room, when Julian Cadazio (Brody’s dealer who is briefly incarcerated for the white-collar crime of sales tax evasion) kindly makes his way into the maximum security unit for the mentally deranged. “All artists sell all their work, that’s what makes you an artist,” […]

French tax

UBS bank appeals a second time against a fine for French tax evasion

UBS argues that the evidence presented in court was insufficient to establish guilt. Keystone / Sebastian Gollnow Switzerland’s largest bank, UBS, has announced that it will appeal again against a fine imposed by a French court for tax evasion offences. This content was published on December 20, 2021 – 18:04 December 20, 2021 – 6:04 […]

French tax

The fine for French tax evasion of the UBS group (UBS) reduced to 3.75 million euros

Legal hassles escalated to UBS Group AG UBS and its French unit UBS France SA, regarding the bank’s cross-border business activities in France between 2004 and 2012. A court of appeal in France ordered the Swiss bank to pay a fine of 3.75 million euros for solicitation illegal and laundering of tax evasion income from […]

French tax

Will drones join satellites to unmask French tax evaders?

The success of a new satellite campaign to unearth French property owners who evade their tax obligations by failing to declare property improvements will determine whether a hitherto rock-solid ban on the use of low-altitude drones to throw a peek into the affairs of private citizens is added to this mix of spy tools. It’s […]

French tax

UBS able to absorb large potential fine in French tax ruling, analysts say

UBS Group AG has enough capital to absorb a potential fine of several billion euros in its ongoing tax evasion case in France, analysts say. Swiss bank appeals a 4.5 billion euros fine imposed on in 2019 by a French court of first instance which found him guilty of complicity in tax evasion, claiming that […]

French tax

UBS verdict postponed in € 4.5 billion French tax case | Invest News

PARIS (Reuters) – French judges on Monday deferred a ruling on UBS’s appeal against a historic fine on Monday to December 13, in a case in which the Swiss bank disputed claims it helped high net worth clients hide assets not declared abroad. The judges said the decision had to be delayed due to the […]

French tax

The French tax administration will work with Google to identify undeclared pools

Property tax evaders trying to hide the pools are being targeted by aerial photos and artificial intelligence. As part of a 12 million euro deal with Google and IT company Capgemini, the French tax authorities will use the technology to search for undeclared swimming pools, tennis courts, conservatories and extensions. These “extras” must be declared […]

French tax

US bank reaches 25 million euro deal to settle tax evasion investigation in France

Published on: 02/09/2021 – 16:35 US banking giant JPMorgan Chase has agreed to pay 25 million euros to settle a lengthy criminal investigation into allegations it helped a French investment bank commit tax evasion. France’s financial prosecutor’s office has alleged that JPMorgan helped executives of investment group Wendel set up a profit-sharing entity that allowed […]

French tax

The French tax authorities will work with Google to identify undeclared pools

Property tax evaders who try to hide swimming pools are targeted by aerial photos and artificial intelligence. As part of a € 12 million deal with Google and IT company Capgemini, the French tax administration will use the technology to find undeclared swimming pools, tennis courts, conservatories and extensions. These “extras” must be declared because […]

French tax

New tax compliance audit process in France — In practice

How about asking the private sector to audit companies on their tax compliance? Nothing should prevent it, because it already exists in many activities for which the public authorities rely on the private sector to verify the safety regulations. The French tax administration (AFC) published on January 13, 2021 a decree (Decree n ° 2021-25 […]

French tax

UBS verdict still in a few months in a French tax case of 4.5 billion euros

PARIS, March 24 (Reuters) – French judges are due to rule in September on Swiss bank UBS’s late appeal against a heavy fine for allegedly helping wealthy clients hide undeclared assets abroad. UBS is seeking to overturn a 2019 French court ruling in which it was found guilty of unlawful solicitation of clients at sporting […]

French tax

UBS faces at least $ 3.6 billion in penalties in French tax lawsuit

FILE PHOTO: The logo of Swiss bank UBS is seen at its headquarters, as the spread of coronavirus disease (COVID-19) continues, in Zurich, Switzerland on February 17, 2021. REUTERS / Arnd Wiegmann PARIS, Reuters The French state is also seeking € 1 billion in damages, the court said in a statement – raising the potential […]

French tax

UBS launches record-breaking € 4.5 billion appeal in French tax case

ZURICH / PARIS, March 5 (Reuters) – Swiss bank UBS (UBSG.S) will appeal on Monday against a record fine of 4.5 billion euros ($ 5.37 billion) imposed by a French court for allegedly helped high net worth clients hide undeclared assets overseas. The case will be watched by banks across Europe, where fines for tax […]

French tax

UBS hits record 4.5 billion euros in tax appeal in France | Invest News

By Brenna Hughes Neghaiwi and Sarah White ZURICH / PARIS (Reuters) – Swiss bank UBS to begin appeal on Monday against a record fine of 4.5 billion euros ($ 5.37 billion) imposed by a French court for allegedly helping wealthy clients hide assets not declared abroad. The case will be followed by banks across Europe, […]

French tax

UBS heads for record €4.5 billion appeal in French tax case

By Brenna Hughes Neghaiwi, Sarah White ZURICH/PARIS (Reuters) – Swiss bank UBS will begin its appeal on Monday against a record 4.5 billion euro ($5.37 billion) fine imposed by a French court for allegedly helping wealthy clients hide undeclared assets abroad. FILE PHOTO: The company logo is seen at a branch of Swiss bank UBS […]

French tax

French tax dispute: Google pays $1.1 billion, Apple could be next

Google has agreed to pay nearly 1 billion euros ($1.1 billion) to settle a French tax dispute. The amount includes €465m in underpaid taxes and a fine of €500m. Google said in a statement that it “agreed” to pay the tax… Reuters reports. Google announced on Thursday that it had agreed to pay 465 million […]

French tax

Google to pay over $ 1 billion in fines to end France tax evasion investigation

PARIS: US Internet giant Google has reached an agreement worth a total of 945 million euros ($ 1.0 billion) to end a tax dispute in France under an agreement announced Thursday in court. The company will pay a fine of 500 million euros for tax evasion, as well as an additional 465 million euros to […]

French tax

Former Swiss HSBC banker pleads guilty in $1.8bn French tax case

The former head of the Swiss private unit of banking giant HSBC has pleaded guilty in France to helping wealthy clients hide $1.8 billion. Peter Braunwalder, who led HSBC Private Bank (Switzerland) from 2000 until his retirement in 2008, was sentenced to a $560,000 fine and a one-year suspended prison sentence, according to information from […]

French tax

Carmignac Gestion pays 30 million euros to settle a French tax investigation

Carmignac Gestion, one of France’s most prominent asset managers, has agreed to pay a €30 million fine to authorities to settle an investigation into allegations of tax evasion. The investigation by the Financial Prosecutor’s Office focused on how certain Carmignac executives were paid via a Luxembourg subsidiary between 2010 and 2014. The authorities challenged Carmignac’s […]

French tax

UBS reserves 450 million euros for the French tax file

Through Brenna Hughes Neghaiwi FILE PHOTO: The logo of Swiss bank UBS is seen in St. Moritz, Switzerland February 10, 2017. REUTERS/Stefano Rellandini/File Photo ZURICH (Reuters) – Switzerland’s biggest bank, UBS, announced on Friday an increase of nearly $400 million in its litigation provisions after a French court fined it 4.5 billion euros ( $5.09 […]

French tax

UBS hit with 4.5 billion euro fine in French tax evasion ruling

UBS has been fined a record 3.7 billion euros and ordered to pay 800 million euros in damages in France after a judge found the Swiss bank guilty of helping wealthy clients to escape paying tax. After a six-week trial, the French court found that UBS unlawfully laundered the proceeds of tax evasion and violated […]

French tax

UBS to appeal after 4.5 billion euro fine in French tax evasion case

By Inti Landauro, Emmanuel Jarry PARIS (Reuters) – A French court has found Swiss bank UBS AG guilty of unlawful solicitation of clients and laundering the proceeds of tax evasion, ordering it to pay 4.5 billion euros ($5.1 billion ) fines. Shares of the Swiss bank fell 3.2% after Wednesday’s decision. UBS, which has denied […]

French tax

Apple agrees to pay 500 million euros to end 10 years of tax battle in France

Apple has settled a decade-long tax battle with France, agreeing to pay half a billion euros ($570 million) in back taxes. The French government had accused Apple of evading or avoiding the tax due on sales made in France… The line between tax evasion, which is illegal, and aggressive tax evasion, which is legal, can […]

French news

How pioneer Mediapart defined the French news agenda | France

It started with a handful of journalists disappointed with the state of the country’s established media, a high bank loan and an even greater injection of optimism. Ten years later, the French investigation site Mediapart has become a thorn in the side of politicians, public figures and those with something to hide. Over the past […]

French tax

Apple is going to court with a group of French tax activists who describe the company as the empire of Star Wars

Last month, Apple sued the French tax activist group “Attac” for occupying its flagship Paris store during a protest against what Attac called “large-scale tax evasion”. Apple today asked the Paris court to ban the group from its French stores and prevent further stunts from happening. In response to the court filing, Attac mobilized in […]

French tax

The heir to the artistic dynasty Guy Wildenstein cleared of a French tax fraud of 550 million euros | France

The scion of Franco-American artistic dynasty Guy Wildenstein has been cleared of French authorities for hiding paintings and properties worth hundreds of millions of euros after one of the biggest tax evasion trials ever staged in the country. State prosecutors had wanted the 71-year-old to be sentenced to two years in prison and fined 250m […]

French tax

French tax police raid Google’s Paris office

French police raided Google’s Paris office as part of an investigation into the company’s tax affairs. The raid began at 5 a.m. Paris time on Tuesday, according to the local newspaper. The Parisian. It involved five prosecutors, 25 computer scientists and investigators from the French tax authorities and the Central Office for the Prevention of […]

French tax

French tax authorities investigate Karl Lagerfeld for tax evasion

The new year may have begun, but an old trend seems to refuse to go out of style: big names in the luxury industry breaking the law for alleged tax evasion. The final high profile name in question is Karl Lagerfeld. French authorities announced on Thursday that the Chanel designer was the subject of a […]