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Pop Icon Shakira Reaches Last Minute Settlement in Tax Fraud Case

Tuesday, November 21, 2023 • Tamil Comments
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Pop sensation Shakira, after nearly five years of maintaining her innocence, reached a last-minute agreement on the first day of her tax fraud trial in Barcelona, effectively sidestepping the potential of facing prison time.

During the trial's opening, Shakira informed Magistrate José Manuel del Amo that she agreed to the terms established with prosecutors. She acknowledged six charges related to failing to pay 14.5 million euros (approximately $15.8 million) in taxes to the Spanish government between 2012 and 2014.

What was anticipated as a lengthy trial featuring over 100 witnesses was abruptly halted within a mere eight minutes.

Under the settlement, Shakira receives a three-year suspended sentence and must pay a fine of 7.3 million euros ($8 million), covering the unpaid taxes and accrued interest. Additionally, she faces an additional fine of 432,000 euros ($472,000) in exchange for the suspension of her prison sentence.

However, this agreement means that Shakira now bears a legal record indicating guilt for tax fraud, potentially influencing another ongoing tax case.

The trial stemmed from allegations regarding Shakira's residency status during 2012-2014. Prosecutors in Barcelona contended that despite her official residence being in the Bahamas, the Colombian singer spent the majority of that period in Spain. Consequently, they argued that she should have paid taxes in Spain on her global income, despite the Bahamas' considerably lower tax rates.

Initially facing a potential eight-year, two-month prison sentence and a fine of 24 million euros ($26 million), Shakira's decision to settle was influenced by prioritizing her family, career, and peace of mind.

Despite the settlement, Spain's tax office continues to investigate Shakira for an alleged evasion of 6.7 million euros in taxes on her 2018 income, accusing her of using an offshore company to evade payments. Her legal battles persist despite this recent agreement.

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