Swiss banking big UBS will pay 835 million euros ($985 million) to settle a long-running legal case in France over aiding rich shoppers in evading taxes, the financial institution and French authorities introduced on Tuesday.The settlement features a 730-million-euro effective and 105 million euros in damages to the French state, bringing closure to the 14-year-old legal saga, AFP reported.“UBS AG is pleased to announce it has resolved the legacy matter concerning its cross-border business activities in France between 2004 and 2012,” the financial institution mentioned in an announcement.The agreed penalty is considerably lower than the three.7-billion-euro effective and 800 million euros in damages initially imposed in 2019. On attraction in 2021, the whole penalty was decreased to 1.8 billion euros.The French appeals courtroom had discovered UBS responsible of concealing severe tax fraud and fascinating in unlawful banking actions in France between 2004 and 2012, throughout which Swiss bankers had been despatched to courtroom well-heeled French shoppers.