Category: Federal Tax Administration (FTA)

Jean-Claude Bastos settlement sees Quantum return two billion to Angola

Quantum Global companies are required to return two billion dollars to the sovereign fund of Angola, the FSDEA, in return for the Angolan authorities dropping charges against its CEO, Swiss-Angolan businessman Jean-Claude Bastos. The figure is mentioned in a dismissal order issued by the Office of the Attorney General of Switzerland on June 27 and …

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Spanish tax authorities fail to pin down Swiss watchmaker Marzio Villa

The Spanish authorities suspect that the owner of the Swiss watch brand Cuervo y Sobrinos, who is officially resident in the Swiss canton of Ticino, is actually living in Spain and should be taxed there. However, the Federal Administrative Court has rejected the Spanish request for legal assistance, citing lack of supporting evidence. Of Italian origin, Marzio …

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Swiss courts rule in favour of Vladimir Gusinsky in Russian TV rights case

Four years have passed since the Russian tax authorities requested legal assistance from Switzerland regarding a company controlled by the Russian media magnate Vladimir Gusinsky. The Federal Supreme Court had just ended the matter with its answer – nyet. Switzerland will not respond to the questions sent by Russia’s Federal Tax Service about Zug-based New Century Distribution GmbH. The Federal Supreme Court upheld …

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Russia to receive information regarding ownership of mysterious Swiss company

The Federal Supreme Court has cleared the way for the Swiss authorities to grant administrative assistance to Russia as part of a tax investigation involving a Swiss company linked to Moscow coal magnate Ruslan Rostovtsev. The request from the Russian Federal Tax Service sought to identify the beneficial owner of Zug-based company Kaproben Handels AG. The authorities in Moscow claimed …

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Jean-Claude Bastos ‘concealed 54 million’ from Swiss tax authorities

The Federal Tax Administration (FTA) suspects Swiss-Angolan financier Jean-Claude Bastos of concealing illicit profits totalling 54.2 million francs. Currently in detention in Angola, Bastos managed the country’s sovereign wealth fund through his company Quantum Global. To prevent further misappropriation of funds, the tax authorities have sequestrated a number of assets belonging to the dual citizen, including bank accounts, property and …

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