The Queen's Bank Hit With £75M Tax Evasion Fine

As per Citywire Coutts has been fined £75 million wrt two separate tax evasion probes relating to its former Swiss private banking business.

The largest of the two penalties (£56 million) was paid to US prosecutors after it admitted assisting US clients to conceal assets in offshore accounts, which subsequently helped them evade tax.

In a separate investigation, Coutts paid £18.8 million to German prosecutors after a tax evasion probe covering a 10-year period to 2014.


Tax does have to be taxing.

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