Lawyer Bob Amsterdam Gives Presentation On Spain's Alleged Tax Abuse

TMZ

Amsterdam says the Spanish government lures in foreign businesses and celebs with desirable tax credits and incentives, then turns around years later and declares the certificates meaningless and hits them with astronomical tax bills.

Transcript

00:00Many of you have woken up some days to stories about celebrated actors and soccer players,

00:11the Rinaldos, the Shakiras, who are famous and celebrated throughout the world,

00:17but are criminalized in Spain.

00:19A few days ago, a newspaper covered the case of a famous individual in private capital and equity.

00:33And that newspaper even offered to its readers the fact that the law was never settled on the issues

00:41the Spanish government was charging this man criminally with.

00:46But this is what Spain does.

00:50They criminalize their best and brightest.

00:54They destroy their entrepreneurial class.

00:57And while doing that, they develop the Beckham Law, which we call the debate and switch transaction,

01:06which lures foreigners into Spain, grants them a phony certificate,

01:11then strategically arranges for audits to occur three, four, or five years later.

01:18And so individuals who save a couple of hundred thousand dollars on their taxes

01:22end up having to pay the Spanish hacienda millions of dollars.

01:29And I'm going to tell you why this happens.

01:31It happens because the Spanish government, which is completely dysfunctional,

01:38and we're going to talk about that later.

01:39This is a country that hasn't had a budget in three years.

01:43It's a country in permanent parliamentary lockdown.

01:46What happens is they need to get money, and the way they do it is they incentivize tax auditors

01:56in a manner that is completely and transparently corrupt.

02:01But what they do is they have these auditors get a piece of the action,

02:08a slice of the money that they take from the hapless American or other foreign investor,

02:15or for that matter, from other Spanish citizens.

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