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Where Taxpayers and Advisers Meet

Extradition Treaty with Spain and/or UK

herencias@tob-eur-op
Posts: 24
Joined: Wed Aug 06, 2008 3:06 pm

Postby herencias@tob-eur-op » Mon Dec 22, 2003 9:29 am

A friend of mine has inherited +-2 millions. Since he should pay half of it in taxes, has decided to go abroad for 5 years till his debt had prescribed. Do you know any country that has no extradition treaty with Spain? Virgin Islands, Isle of Man, Philippines? Thank you in advance. If you do not know the answer but know countries that have no extradition treaty with the UK, it can help me a lot since they are likely not to have a treaty with Spain.

Juan Gomez

musani
Posts: 2
Joined: Wed Aug 06, 2008 3:07 pm

Postby musani » Sat Dec 27, 2003 9:03 am

Possibly Dubai

musani
Posts: 2
Joined: Wed Aug 06, 2008 3:07 pm

Postby musani » Sat Dec 27, 2003 9:05 am

But remember tax evasion is illegal, better talk to experts on tax avoidance schemes which are legal such as trusts.

Ian McTernan CTA
Posts: 1232
Joined: Wed Aug 06, 2008 3:02 pm
Location: Bedford
Contact:

Postby Ian McTernan CTA » Sat Dec 27, 2003 10:32 am

After stating the obvious that what you are suggesting is tax evasion and you are culpable as an accomplice in seeking any advice on this subject, and ignoring the fact that it may not be as easy as you think to transfer the money out of Spain in the first place, I thought I would just point out that in theory the debt may be prescribed after a number of years but the criminal charges brought against you and your friend for tax evasion will stay in place and he is likely to be arrested to serve out his term as soon as he steps back into Spain. You may also wish to consider that once a judgement has been obtained for the taxes any assets will be seized to pay off the taxes.

Seek proper tax advice from a local specialist firm.

Ian McTernan CTA
McTernan Associates Ltd
Chartered Tax Advisers
ian@imcternan.com
McTernan Associates Ltd
Chartered Tax Advisers
Bedford
Email through link on website:
http://www.imcternan.com


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