The Ministry Of Finance’S Technical Staff Union Called For An Investigation Into Juan Carlos I’S Loan

2021-02-27   |   by CusiGO

Carlos CROSSA, chairman of the Ministry of finance’s gestha technical union, believes that the tax authorities should investigate the loans provided by 10 businessmen and friends to the retired king to pay for his second tax adjustment of 4395901.96 euros. “There are signs that it’s not real credit, it’s a donation,” Cruz said

If contributions are submitted as grants, they must be taxed at least 40% because there is no kinship between the donor and the beneficiary. Instead, as loans, they don’t have to pay taxes.

If there is an obligation to file an ITP return, even if the return is a 100% bonus, and the debt contract that the tax authority must verify to verify the interest rate (possibly 0%) or repayment period.

Doubts about whether these loans are really repayable are based on the king’s old age (83) and his meager declaration of inheritance. Juan Carlos I lost nearly 200000 euros a year from the national budget last year, and assured him that he lacked funds abroad after he handed over 65 million euros to Corinna Larsen in 2012 from the king of Saudi Arabia. His only income is his pension as reserve commander in chief.

Chairman gestha acknowledged that if the documents were correct, it would be difficult to prove the fraud of the credit, as it would only be determined over time whether someone asked to repay the credit, but added that the Ministry of Finance had to clarify the real nature of the financial transaction, not the formal nature.

“Mock loans are relatively common to cover up donations,” Cruz added, stressing that it is a tax fraud. In this case, because of the millions of dollars involved, the amount of tax crimes far exceeds 120000 euros.

This is the second tax normalization by Juan Carlos I, who paid a tax debt of 678393 euros in December last year for funds provided by Mexican businessman Allen Sangin é s Krause between 2016 and 2018. Then the retired king got the money through a bank credit line.