featured News Trending

Shakira Cleared of Tax Fraud Charges in Spain

By 73 0

Shakira has been acquitted of tax fraud in Spain after the country’s High Court overturned a 55 million euro fine imposed in 2021. The ruling found that Spanish authorities failed to prove the singer spent more than 183 days in Spain during 2011, the threshold required to classify her as a tax resident under Spanish law. Her legal team said she will now receive more than 60 million euros, including interest, from the Spanish Treasury.

Spanish tax authorities had argued Shakira was effectively living in Spain due to her relationship with former Gerard Piqué and her professional activities in the country. However, the court ruled the penalties were unlawful because the claim that she was a Spanish tax resident in 2011 was not sufficiently proven. The decision can still be challenged before Spain’s Supreme Court and only applies to the 2011 fiscal year.

Shakira’s lawyer described the ruling as the end of an “eight-year ordeal” caused by flawed administrative practices. In a statement, the singer said she hoped the judgment would help ordinary people facing unfair treatment from authorities. The ruling is separate from another tax case in which Shakira reached a settlement with prosecutors in 2023 over unpaid taxes between 2012 and 2014, accepting charges and paying a fine exceeding 7.3 million euros to avoid trial.

Pic courtesy: google/ images are subject to copyright

News Trending

UAE extradites British trader Sanjay Shah to Denmark

By 760 0

British trader Sanjay Shah has been extradited from the United Arab Emirates to Denmark to face tax fraud charges totaling £1.46 billion. The charges stem from alleged fraudulent share trading schemes conducted by Solo Capital, the hedge fund Shah founded. Despite living in Dubai, Shah denies any wrongdoing, asserting that the trades in question were legal. Denmark, heavily impacted by “cum-ex” schemes, alleges that Solo Capital engaged in fraudulent activities between 2012 and 2015. The Danish authorities are seeking to recover the substantial sum, which accounts for nearly 0.5% of the country’s GDP.

In the legal proceedings, Shah, who lost his job as a trader during the 2008 financial crisis, is considered the primary suspect. Prosecutors in Denmark are pushing for him to be held in custody until his trial, scheduled for January of next year. Since 2020, Danish authorities have aggressively pursued Shah, leading to the freezing of much of his fortune, including a £15 million central London property. Despite an extravagant lifestyle in Dubai, where he resided on the exclusive Palm Jumeirah island and hosted charity events with renowned musicians like Elton John and Drake, Shah has faced mounting legal challenges.

Sanjay Shah’s legal battles are part of a broader crackdown on “cum-ex” fraud in Denmark. In a separate case in November, Guenther Klar, a British national who worked for Solo Capital between 2010 and 2012, went on trial in Denmark—the country’s first court case over cum-ex fraud. Klar, extradited from Belgium, faces accusations of defrauding the government of £37 million. He maintains his innocence, marking another chapter in Denmark’s efforts to address financial misconduct within the realm of cum-ex schemes. Despite facing challenges in the UK Supreme Court, Shah’s extradition and the ongoing legal proceedings underscore Denmark’s commitment to pursuing those involved in financial fraud, irrespective of their location.

Picture Courtesy: Google/images are subject to copyright

News Trending

Shakira Faces Second Round of Tax Crime Allegations

By 886 0

Colombian pop sensation Shakira finds herself facing another round of legal troubles as the Spanish government has charged her with tax evasion for the second time. The allegations come from prosecutors in Spain, who claim that the singer defrauded the state of a staggering €6.7 million ($7.1 million, £5.8 million) in 2018.

The charges stem from Shakira’s alleged failure to declare millions in advance payments related to her El Dorado World Tour and other earnings. The Spanish prosecutors initiated this second investigation in July 2023, finally releasing the details to the public.

Shakira, who is now 46 years old, is reportedly aware of the new charges. However, her legal team in Miami, where she currently resides, has not yet been officially notified. Their primary focus has been on preparing for the trial related to the 2012-2014 fiscal years, scheduled to begin on November 20.

The core issue in the new charges revolves around Shakira’s residency in Barcelona with her partner, football star Gerard Piqué, in 2018. Spanish tax authorities argue that she was obliged to declare all her international earnings in Spain at the time. They contend that instead of complying, she diverted her income to “companies domiciled in countries with low taxation and high opacity.”

This is not the first time Shakira has faced such allegations. She already faces a trial over six separate alleged tax crimes in Barcelona this November, where she has been accused of failing to pay €14.5 million ($15.3 million, £12.6 million) in taxes between 2012 and 2014. Shakira has consistently denied any wrongdoing and expressed confidence in her case, stating in September that she has enough evidence to support her innocence and believes justice will ultimately rule in her favor.

Picture Courtesy: Google/images are subject to copyright