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Steinmetz to Contest $1B in Unpaid Israeli Taxes
Jan 1, 2013 7:01 AM
By Deena Taylor
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RAPAPORT... Beny Steinmetz of Beny Steinmetz Diamonds is contesting a $1.07 billion (NIS 4 billion) bill from the Israel Tax Authority, according to a recent media report.
The Israel Tax Authority opened an investigation into Steinmetz's business following contradictions exposed between documents filed in 1997 and additional information provided seven years ago regarding his group of businesses, Haaretz reported.
Tax officials confirmed to Haaretz that information surrounding the investigation will be aired on Israel's Channel 10 investigative program, Hamakor ( or ''The Source'') Tuesday night. The program shows how the State Prosecutor's Office and the Tax Authority wanted to start criminal investigation into Steinmetz's business on charges of tax evasion as early as 2009.
Steinmetz moved his official residence for tax purposes to Geneva, Switzerland in March 2012, which allows him the status of a foreign resident for Israeli taxes. At the time, Steinmetz's spokesman said he had been living in Switzerland for many years, but local business sources noted he relocated only at the end of 2011 and until then lived in Arsuf, Israel.
Steinmetz's global companies are held by two trusts registered in Lichtenstein.
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Tags:
Beny Steinmetz
Steinmetz
Israel Tax Authority, Deena Taylor
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