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Swiss Life settles US tax case against payment of a fine

2021-05-14T20:15:43.482Z

American authorities are suspending investigations into the life insurer who allegedly made it possible for Americans to avoid taxes. At the same time, the group makes a million payment.



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Swiss-Life headquarters in Zurich (archive picture): End of a process that has lasted for years

Photo: WALTER BIERI / AP

The life insurer Swiss Life has reached an agreement with the US authorities in tax proceedings.

The prosecution is suspended, at the same time the Swiss company puts a total of 77.4 million dollars on the table in the form of a fine and further payments.

This emerges from court documents about the so-called Deferred Prosecution Agreement.

The US judiciary had accused Swiss Life of helping wealthy US taxpayers with tax evasion.

According to the US Department of Justice, it is a total of $ 1.4 billion that American customers had invested in the company's insurance policies.

"Today, Swiss Life is being held responsible for having launched and marketed specially designed insurance products for American tax evaders," said a representative.

Swiss Life had already announced in March that the group had set aside 70 million francs in connection with an earlier insurance portfolio with US customers.

mic / Reuters

Source: spiegel

All business articles on 2021-05-14

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