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post #1 of 18 (permalink) Old 10-17-2007, 12:11 PM Thread Starter
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Cisco raided for tax evasion in Brazil

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Tuesday October 16, @09:36PM

Many readers are writing in about the raids and arrests in Brazil's Cisco operation. At least 40 people were arrested earlier today, and Brazilian authorities asked the US to issue arrest warrants for five more suspects in this country. The allegation is that Cisco brought at least $500M of equipment into Brazil without properly paying import duties, and now owes over $826M in taxes, fines, and interest.
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post #2 of 18 (permalink) Old 10-17-2007, 12:22 PM
 
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Belgium... you know anything about this?
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post #3 of 18 (permalink) Old 10-17-2007, 12:49 PM
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No wonder Alex is in hiding.....


I have a question though, if the equipment was only worth 500m then why are the taxes 826m?



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post #4 of 18 (permalink) Old 10-17-2007, 12:59 PM
 
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Originally Posted by R1LOVER View Post
No wonder Alex is in hiding.....


I have a question though, if the equipment was only worth 500m then why are the taxes 826m?
The article said "at least $500M"...
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post #5 of 18 (permalink) Old 10-17-2007, 12:59 PM
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Belgium....the fugitive, lol


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post #6 of 18 (permalink) Old 10-17-2007, 01:03 PM
 
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Not to worry, Brazil is a country that is too easily to "resolve" anything with :dolla


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post #7 of 18 (permalink) Old 10-17-2007, 01:10 PM Thread Starter
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Quote:
Originally Posted by R1LOVER View Post
I have a question though, if the equipment was only worth 500m then why are the taxes 826m?
It helps if you actually read the post

Quote:
Originally Posted by shagzomatic View Post
..now owes over $826M in taxes, fines, and interest.

If you read the article the story links to as well, it notes this was over the course of 5 years. Try not paying taxes here over 5 years and I have a feeling fines and interest will be much larger than the original amount owed too. :

Last edited by shagzomatic; 10-17-2007 at 01:12 PM.
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post #8 of 18 (permalink) Old 10-17-2007, 01:12 PM
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damn... someone fucked up BIG time



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post #9 of 18 (permalink) Old 10-17-2007, 04:21 PM
 
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Actually...dudes....

The "entity" that made the boo-boo was a Cisco reseller.

Cisco works with partners worldwide, and while we (uhm...that's Cisco...) always make sure we comply to local laws and regulations, maybe some of our partners don't.

But yes... It's not just egg on our face, it's a damn 25-egg omelet.

We'll get out of this. This probably means the right people weren't paid enough
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post #10 of 18 (permalink) Old 10-17-2007, 04:23 PM
 
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...This probably means the right people weren't paid enough
In Brazil, I'm 200% sure that's what happened... :
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post #11 of 18 (permalink) Old 10-17-2007, 04:39 PM
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In Brazil, I'm 200% sure that's what happened... :
werd.

doing business in Brazil is much like doing business in Quebec. So long as the correct person has tickets to the sports game or a really cool piece of jewelry, all is well.

HAIL TO THE KING!!

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post #12 of 18 (permalink) Old 10-17-2007, 04:41 PM
 
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post #13 of 18 (permalink) Old 10-17-2007, 04:54 PM
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Quote:
Originally Posted by Junior View Post
werd.

doing business in Brazil is much like doing business in Quebec. So long as the correct person has tickets to the sports game or a really cool piece of jewelry, all is well.
This is in the US as well... much more then we would like to think...



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post #14 of 18 (permalink) Old 10-17-2007, 05:47 PM
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LOL, some things are universal I guess.

The goverment got in shit up here for blowing 100k on bribes to Quebec businessmen, there was a big uproar in Ontario, but I don't get it, I mean really... that's just how business works there, it's shitty but that's how it is.

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post #15 of 18 (permalink) Old 10-17-2007, 05:57 PM
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Nobody hears about them here, the only time you know is when someones plane crashes for no reason or they just come up missing....



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post #16 of 18 (permalink) Old 10-17-2007, 06:04 PM
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Quote:
Originally Posted by R1LOVER View Post
Nobody hears about them here, the only time you know is when someones plane crashes for no reason or they just come up missing....
amazing when you sit back and realize just how powerless we are in the grand scheme of things. we'll never know who the big guy is pulling the puppet strings....president? congress? ya right....

(suddenly hears a knock at the front door....)


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post #17 of 18 (permalink) Old 10-18-2007, 07:29 AM Thread Starter
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hang on, my doorbell just rang...
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post #18 of 18 (permalink) Old 10-18-2007, 11:47 AM
 
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hang on, my doorbell just rang...
That looks more like SWAT, I thought all FBI agents wear suit?
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