UBS to Pay $55.7 Million to Settle Belgian Tax Evasion Case

The logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland, on June 22, 2020. Arnd Wiegmann/Reuters

ZURICH—Swiss bank UBS agreed to pay 49 million euros ($55.7 million) to settle a case of alleged tax evasion dating back to the period of 2005 to 2013, Belgian prosecutors said on Thursday.

The settlement concerns the alleged presence in Belgium of UBS employees and the alleged facilitation of tax evasion for Belgian UBS clients, Brussels prosecutors said in a statement.