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UBS fine for tax evasion slashed by nearly half to $2bn
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A French appeals court ordered UBS Group on 13 December to pay around $2bn for helping wealthy clients in France evade taxes, reducing the size of an earlier penalty of around $5bn.
The case has hung over UBS for years. The Swiss banking giant is one of the world’s biggest wealth managers.
The original 2019 verdict was large enough to threaten...
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