October 16, 2007
9:37 PM Subscribe
Cisco under investigation in Brazil amid allegations of import tax evasion Cisco Systems’ (CSCO) Brazilian office was raided by that country’s authorities for undisclosed reasons. Local media is suggesting there are “tax issues,” including a potential tax liability (and penalties) of up to $830 million. (According to
Om Malik at www.gigom.com)
This post was deleted for the following reason: This doesn't really seem like Big News to the point that it's worth a random newsfilter post. -- cortex
KornfeldFilter
posted by Blazecock Pileon at 9:58 PM on October 16, 2007
posted by Blazecock Pileon at 9:58 PM on October 16, 2007
b1tr0t, one way the Brazilian government could recoup Cisco's tax liability is by seizing source code, designs, etc. They could then nationalize the IP or sell it to the highest domestic bidder and run Cisco out of business.
posted by infinitewindow at 12:05 AM on October 17, 2007
posted by infinitewindow at 12:05 AM on October 17, 2007
They weren't evading taxes they were just routing around them.
posted by srboisvert at 1:03 AM on October 17, 2007 [1 favorite]
posted by srboisvert at 1:03 AM on October 17, 2007 [1 favorite]
Cisco... cisco.... crisco.... Crisco? Crisco is in trouble in Brazil? Infringing on the already established fake lard market huh? Fuckin' imperialist dogs...
posted by From Bklyn at 4:56 AM on October 17, 2007
posted by From Bklyn at 4:56 AM on October 17, 2007
Is this the same Brazil Where 70% of Computers Are Pirated?
posted by StickyCarpet at 4:56 AM on October 17, 2007
posted by StickyCarpet at 4:56 AM on October 17, 2007
Rule no. 1, thou shall not take money out of Brazil, if thou triest, thou shall pay dearly.
posted by caddis at 5:32 AM on October 17, 2007
posted by caddis at 5:32 AM on October 17, 2007
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posted by Spacelegoman at 9:49 PM on October 16, 2007