Friday 23 July 2010

Gibraltar breeding ground for tax fraud.

Costa del Sol, with its proximity to the tax haven of Gibraltar, has become a breeding ground for tax fraud. Last year the Economic Crime Office uncovered nearly 50 cases of tax fraud totaling over one hundred million euros.

The prosecutor of Economic Crimes, Antonio González, explained yesterday that the majority of cases investigated relate to fraud to avoid paying VAT and corporation tax. Since 2006, the cases of tax crimes discovered have tripled in Malaga due to more cases being investigated.

The prosecutor blamed the effects of economic crisis. “When the debts grow, ways are sought to circumvent the payments”.

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