Julio Iglesias, one of the most prominent names on the Spanish music scene, was recently celebrating. On September 23, the Madrid artist turned 80, and he did so by publishing a letter of gratitude in the magazine ¡HOLA!, mentioning all the iconic passages of his extensive career. One of the points that he highlighted was that of his family, which has become the protagonist this Friday for the least desirable reasons.
Carlos Iglesias, the artist's younger brother, has been summoned to testify next Tuesday by the Provincial Court of Madrid. The community prosecutor's office published this morning its conclusions on an alleged crime of fraud committed in 2001, together with another businessman. The accused would not have declared 19 million euros from the sale of some land, claiming to have tax residence in Panama. He faces four years in prison and a fine of 98.2 million.
“The Rolimpa Trading Corporation entity was incorporated in Panama on June 3, 1984 and in 2001 it sold in separate public deeds a series of lands it owned in Vicálvaro to two Spanish companies for an amount of 18,538,465 and 27,739,466, 07 euros, respectively, which made a total of 46,277,932.04 euros," the statement indicates in its letter, ensuring that the amount was not declared "in order to obtain an illicit tax benefit."
The operations were paid through a bank transfer, ending up in an account at the Continental Bank of Panama. At the time of the transaction, Carlos Iglesias was the owner of a company that ran Rolimpa through a commercial company, in addition to being the front man of the entity along with the other defendant, now deceased. This second situation lasted until March 2, 2001, despite the fact that he continued managing the entity after the deadline.
The Prosecutor's Office accuses Carlos Iglesias of not presenting “Non-Resident Income Tax declaration of the company Rolimpa Trading Corporation, which declared itself a tax resident in Panama, nor any tax declaration for the profits obtained in this operation.” Likewise, he points out that on February 22, 2001, a contract was formalized to sell all of his shares in Ganivet, a company that in turn held those of Rolimpa, but that "does not correspond to reality."
The accusation also accuses Iglesias of not proving his tax residence in Panama. "He has spent time in Spain, where in 2001 and 2002 he has his main economic interests and greater income as a result of the profits from this operation, so he must be considered a tax resident in our country," stated the document published this Friday morning.
