Tuesday, September 17, 2019
Perfil

ARGENTINA | 03-04-2018 08:31

Caputo to address Congress on rising debt, personal tax haven activity

A media investigation in February revealed Caputo failed to declare information about his stake in offshore companies that manage hundreds of millions of dollars in tax havens.

Finance Minister Luis Caputo will address Congress tomorrow during a sitting of a special committee for the monitoring of foreign debt.

In his first visit to Congress as a Cabinet minister, Caputo will be grilled by lawmakers about Argentina’s rising foreign debt.

However, much of the attention surrounding his visit involves his personal financial activity in tax havens.

A Perfil and La Nación investigation in February revealed Caputo failed to declare information about his stake in offshore companies that manage hundreds of millions of dollars in tax havens.

From August 2009 to July 2015, Caputo was the major shareholder of the Princess International Group based in the Cayman Islands. He held more than 75 percent of the company’s shares.

However, he failed to include this information in legally-required affidavits for the 2014 financial year, which were presented to Argentina’s Anti-Corruption Office (OA) when he became a public servant in December 2015. He also withheld information in 2016 regarding the 2015 financial year.

The omission of this kind of information is a crime in Argentina and is punishable with up to two years in prison.

-TIMES

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