About: http://data.cimple.eu/news-article/6c8a435a6ac165fc181dee20397029e285c2c4410faf2b03da9aaced

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An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	French prosecutors on Monday requested a fine of at least two billion euros ($2.4 billion) against Swiss bank UBS, saying it had helped French clients commit tax fraud. UBS is fighting the case in appeals court after being hit with a 3.7-billion-euro fine in an initial ruling in 2019 -- France's biggest-ever tax evasion penalty. But the Swiss giant disputes that it ever broke the law. Between 2004 and 2012, UBS had "great interest in gathering large amounts (of money) by offering efficient wealth management but also concealing that wealth, or part of it, from the French taxman," prosecutor Muriel Fusina told the court. French authorities determined that more than 10 billion euros had been kept from the eyes of their tax officials over that period. Since then Switzerland's once-renowned banking secrecy has "crumbled" with the introduction of automatic financial data sharing between countries from 2018, she added. Meanwhile UBS hopes to reduce the amount of any financial penalty by arguing it should be calculated on the basis of the tax avoided, rather than the total wealth hidden from the taxman. On top of the fine, government lawyers have asked that UBS be made to pay one billion euros in damages. alv/tib/tgb/kjl
schema:headline	French prosecutors demand two-billion-euro fine for UBS
schema:mentions	UBS France national football team USA Gymnastics Tax evasion French language Switzerland Court Terabyte Data sharing Wealth management
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-03-22 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	71 (xsd:integer)
http://data.cimple...tology#hasEmotion	anger

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