Monday, February 11, 2013

Ley of the land

Espana might want to take Phil Mickelson seriously; tax rates matter:

Arturo Fernández, the number two at the Spanish Confederation of Business Organizations (CEOE), systematically paid his workers overtime hours at his catering business in black-market money, radio station SER reported on Monday, quoting employees of his Grupo Arturo Cantoblanco company.
SER said workers received white envelopes with their names on them and containing between 100 and 700 euros, up to half of their salary. The practice could constitute a form of defrauding both the tax agency and the Social Security system.
In a series of interviews with Cadena SER, waiters, chefs and supervisors confirmed the practice.
The Spanish Inquisition has a lot of heretics to burn;
The former head of the CEOE, Gerardo Díaz Ferrán, is currently in jail following accusations of tax fraud and money laundering. Spain has been rocked by a series of financial scandals that have hit the king’s son-in-law, Iñaki Urdangarin and the ruling Popular Party, which allegedly paid its officials cash bonuses in envelopes.
Grupo Arturo Cantoblanco was founded over a century ago in Madrid by Fernández’s grandfather.  

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