Credit Suisse agrees $110 million deal to settle Italy tax case: source

Credit Suisse agrees $110 million deal to settle Italy tax case: source
 

Credit Suisse CNGN.S has agreed in principle to pay about 100 million euros ($110 million) to settle its tax position in Italy in a case involving allegations it helped clients transfer undeclared funds offshore, a source with direct knowledge of the matter said on Tuesday.
The agreement has not been finalised and until it is, and the money paid, the criminal investigation cannot be wrapped up nor can a decision be taken on whether or not to order a trial, other sources said.
Credit Suisse declined to comment.
The inquiry involves allegations that up to 14 billion euros ($15 billion) was... read more

 
18 October 2016 in Business, Views: 50
Source: Reuters
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