Edition 1446
21 October 2017
Edition: 1446

Read this week's issue online exactly as it appears in print.

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Attorney-General wants to discover trail of €10 billion that went offshore

by TPN/ Lusa, in Business · 28-09-2017 15:01:00 · 0 Comments

The Portuguese Attorney-General’s office has opened an inquiry into the case of about €10 billion that was transferred offshore without being handled by the tax authority between 2011 and 2014.

The case became public in February when the finance ministry found that between 2011 and 2015, when Paulo Núncio was secretary of state of tax affairs under the former coalition government, that tax authority figures were not published with the amounts transferred offshore.
The statistics were only published again on the finance department portal following a decision by the current secretary of state of tax affairs after the ministry detected a total of about €10 billion, “that was not handled by the tax authorities”.
Because of the discrepancies, Rocha Andrade requested an audit which concluded that it was “extremely unlikely” that the IT fault that enabled the money to go abroad was caused by a human hand, one of the explanations being forwarded for the computer “blackout”.
Another conclusion was that the logs that are normally saved automatically had been successively ignored and were later deleted.

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Edition 1446
21 October 2017
Edition: 1446

Read this week's issue online exactly as it appears in print.

Twitter