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Bank of China paid Italy 20 million euros to settle tax dispute linked to money laundering case - source

Reuters  |  MILAN 

MILAN (Reuters) - Bank of China has paid Italy's tax authorities 20 million euros ($22.3 million) to settle a tax dispute connected to a money laundering case involving its Milan branch, a source familiar with the matter said on Friday.The payment by Bank of China was made on January 31, before the lender made a separate deal to settle a criminal case involving the same money laundering allegations, the source said.Prosecutors in the so-called "River of Money" investigation in Florence alleged more than 4.5 billion euros had been smuggled to China from Italy between 2006 and 2010 by Chinese ...

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First Published: Fri, June 16 2017. 15:57 IST
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