Ex-managers accuse of Swatch of tax evasion
Spent: 13 augusts 2004 16.28 last modified: 13
augusts 2004 16.29 have evaded paying taxes and import duties for
millions to. That stands in a charge which two former employees
of Swatch in washington have submitted. Swatch contradict the
imputations with great force. With amounts that dochterbedrijven
charge each other, Swatch will have this way manipulated that the
profits especially rightly have come in the country where relatively
little tax must be paid. Centrally at the wegsluizen of flows of
funds stands Swatch Group Asia on the British virgin islands, this way
stands in the charge. Those islands stand confessed as a tax
paradise. Highplaced managers of Swatch this spring the matter
stifle will have wanted, after the two klokkenluiders, both had
complained accountants, at their bosses concerning the alleged
practices. The two-high rolling mill has at the same time
delivered also e-mails and internal documents in washington with the
charge. Legal Adviser Hanspeter Rentsch van Swatch, who does not
exclude an incidental mistake, states that the venture nothing does
resistance workers. ' within the limits of the law we try as
little as possible pay tax.' According to Rentsch the matter is
no longer than a labour dispute. Two with their charge to the
American Ministry of Labour has stepped after Swatch had refused Group
discuss a schikkingsvoorstel of the lawyer of the two accountants.
(c) DUTCH PRESS AGENCY
Source "Ex-managers accuses of Swatch of tax evasion": nu.nl
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