Cisco Systems, the
world’s biggest maker of network equipment, has suspended Carlos Carnevali, its
vice president in Latin America, as he and others are about to stand trial in a
Sao Paulo court in Brazil on charges of tax-evasion.
Carnevali’s dismissal is part of Cisco’s response to the arrests last month
of several people, including Carnevali, for alleged smuggling and tax evasion in
Brazil. The Brazilian federal authorities claim the scheme could involve the
evasion of $US850m (?411m) in taxes.
‘Our preliminary review as well as information brought to our attention by
authorities strongly suggest that at least this one Cisco Brazil employee was
pursuing a personal agenda for his own benefit,’ Cisco said in a statement.
The Brazilian judge overseeing the case formally opened the criminal
proceedings in the case last Thursday in Sao Paulo, the Financial Times
Taxman lines up early exit from doomed Concentrix tax credits deal, as HMRC faces intense scrutiny from MPs
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more