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Penta Companies was benefited with the approval of a reduction of more than 1,400 million pesos, spent on legal advice, of the total amount of your taxes for tax year 2018, as published this Tuesday by Journalistic Investigation Center (Ciper Chile).
A report from the aforementioned media revealed that on August 3, the Internal Revenue Service (SII) accepted an appeal from the firm for payments to three law firms who advised her during the criminal process for different tax crimes were considered necessary expenses to produce income.
According to the article, the SII assured Cyprus Chile what the resolution “conforms to the standards”, but within the entity there are sources that indicate that the benefit does not correspond, given that the controllers -Carlos Délano and Carlos Lavín, convicted of repeated tax crimes in 2018- acted with fraud so that your company defrauded the Treasury.
The investigation, citing anonymous sources, ensures that after the resolution of the SII, the legal direction of the supervisory institution issued an instruction that indicates that This policy will be extended “every time a company makes expenses in legal advice in the framework of a criminal process that involves it” and that those payments will be considered as “necessary to produce income”, so they can be subtracted from the tax base from which the payment of taxes is calculated.
Given the resolution by the SII, Penta told Cyprus that the entity “makes it clear that legal defense spending is an accepted expense, provided that the expense is linked or has an impact on the taxpayer’s business management result as a whole “.
While facing the questioning that arises after the return, because it originated from a trial for tax crimes, the holding company maintained that “the determination of the criminal responsibility of Penta as a legal entity is a matter that has not been sentenced and is still pending, but, As previously indicated (…) the SII makes it clear that the cost of legal defense in court is an accepted expense and that its origin or inadmissibility cannot be subject to the eventual outcome of the lawsuit.
#AlertaCiper Trial for tax crime and political silver: SII benefits Penta with a tax cut for its millionaire spending on lawyers https://t.co/UUqNyKSlpW pic.twitter.com/bKDfPhpWtZ
– CYPRUS Chile (@ciper) October 28, 2020
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