Does JP Morgan Have a Responsibility to Prevent Clients from Avoiding Taxes?

Does JP Morgan Have a Responsibility to Prevent Clients from Avoiding Taxes?

In September 2021, JP Morgan reached a settlement with the French tax authorities over a long-standing tax dispute. The bank agreed to pay €25 million (approximately 200 million RMB) in settlement without admitting any wrongdoing. What makes this case particularly noteworthy is that the tax dispute did not involve JP Morgan’s own tax arrangements but rather its assistance in helping a client avoid taxes.