35 replies to this topic

[Alx09]

Edit: English link: http://blogs.wsj.com...YWORDS=briatore

http://www.aftonblad...ticle7188700.ab

Google translate:

Billionaire got caught in tax raids
Briatore loses his yacht

LOS ANGELES. Billionaire Flavio Briatore, Heidi Klum's ex and former F1 team manager, could be forced to spend the summer in the country.

Taxman in Italy have seized his yacht. Now it can be sold to cover his tax liabilities. Armed Italian police recently went on board his 207 foot high Blue Force outside Genoa. The raid was only his wife, an underwear, on board. Exempt from paying VAT.

At the heart of the dispute is the Italian tax and boats for hire. If your boat let go on the record as a commercial craft. That means owners do not have to pay the country's 19-percent VAT on fuel, wine and many kinds of food.

Wall Street Journal notes that there is plenty of money at stake in the case of Dom Perignon champagne for 8000 crowns the bottle and tanks, which cost 800 000 SEK to fill.
Uses the private

Italian authorities believe that Briatore mostly use the boat for private purposes but it has registered as hyrfartyg.

Some båtuthyrare believe that authorities overreacted and that there are political reasons behind the police raid.

- He has probably caused anger among some in government and now they give back, "says one of them in the WSJ.

Max Mosley payback?

Edited by Alx09, 26 May 2010 - 17:41.

[jonaldinho]

Wow! How the mighty can fall from favour.

I know he's a bit of a gangster, but surely so are many of his peers, always looking for and finding ways to evade paying their dues.

Kinda feeling sorry for him by now although won't be diverting my Unicef standing order to him just yet.

The following article lifted from the Wall St Journal.

The yacht business is filled with tax-loopholes and dodges. Italian tax authorities say Flavio Briatore is caught up in one of them.

And so they seized one of Europe’s best known yachts for unpaid taxes. Armed Italian police boarded the 207-foot Force Blue near Genoa and impounded the boat, claiming the owner, Flavio Briatore, owes millions of dollars in unpaid taxes. Mr. Briatore’s wife, a Wonderbra model, was on board when the police arrived.

(To see video footage of the seizure click here).

At issue is Italy’s tax treatment for chartered vessels. If a boat is a charter vessel–privately owned but occasionally rented out to others–it can register as commercial boat and doesn’t have to pay the 19% value-added tax, or VAT, on fuel, wine and many kinds of food.

When you are talking about $1,000 bottles of Dom Perignon and tank-fill ups that cost $100,000, that is big savings. (In the U.S., foreign-flag vessels can’t charter in U.S. waters).

Italian customs officials say Mr. Briatore–the flamboyant sports tycoon known for his super-model-packed yacht parties and Formula One racing teams–has been claiming commercial status for the boat to avoid taxes. But, they say, Mr. Briatore uses the boat mostly himself.

Fraser Yachts, which manages Force Blue and rents it for charter, said it is “not aware of any contravention of the legal or financial requirements, as set out by the Italian authorities, by either the owning company, captain or beneficial owner.

“As far as we are able to ascertain, this issue appears to have arisen as a result of regulations which can appear confusing and inconsistent rather than through any wrong-doing” by the owner.

Two yacht brokers told me this morning that Force Blue is scheduled to be chartered for six weeks this summer at €255,000 ($278,550) a week, suggesting it really is a charter vessel. They say Italian officials are simply making an example of the high-profile Mr. Briatore for political reasons.

“He probably just ticked someone off in government and they’re getting him back,” said one yacht broker.

Either way, the case is likely to rock a few boats on the Med this year, as yacht owners wonder how closely local officials are going to start snooping around their boat business. Brokers also say they are getting barraged with calls from worried charter clients in the Med. “When you’re paying $250,000 a week for a boat this summer, you don’t want to worry about the police jumping on board and taking the boat,” said one broker.

[MichaelPM]

"The raid was only his wife, an underwear, on board."
So it was a pantie raid?

[F1_conman]

"The raid was only his wife, an underwear, on board."
So it was a pantie raid?

I don't get one thing in this story - how did a gal like Heidi Klum get involved with a toad like Briatore. Can anyone explain plz?

Edited by F1_conman, 26 May 2010 - 18:44.

[Ross Stonefeld]

How can you not know the answer to that?

[Greem]

I don't get one thing in this story - how did a gal like Heidi Klum get involved with a toad like Briatore. Can anyone explain plz?

The Brits here will probably recall Mrs Merton asking Debbie McGee:

"So, what first attracted you to the millionaire Paul Daniels?"

[Alx09]

I don't get one thing in this story - how did a gal like Heidi Klum get involved with a toad like Briatore. Can anyone explain plz?

Money.

[BullHead]

I just wish the F1 paddock would stop still associating with this man.

[Slowinfastout]

I just wish the F1 paddock would stop still associating with this man.

I'll take an obvious clown like Briatore over some of the two-faced bastards who don't publicly assume themselves... like his friend Symonds for instance..

He presents himself like a quiet nice guy, everyone loves him and are ready to forgive every awful thing he did, yet he engineered pretty much everything that got pinned on Briatore lol.. (in F1)

[fastlegs]

Wow, $100,000 to fill his yacht with fuel.

I wonder how far it will go on a full tank of fuel?

[Greem]

Wow, $100,000 to fill his yacht with fuel.

I wonder how far it will go on a full tank of fuel?

Not quite far, or fast, enough to evade Italian Customs

Edited by Greem, 27 May 2010 - 00:03.

[fastlegs]

Not quite far, or fast, enough to evade Italian Customs

Good one.

[stevewf1]

Maybe 'ol Flav will be running F1 someday?

http://formula-one.s...-news-briefs52/

Report - Briatore Set For FOM Role Alongside Ecclestone: Flavio Briatore's visit to the Monaco paddock earlier this month was reportedly part of a plan for the Italian to return to F1. Due to the crashgate scandal, the ousted former Renault boss is currently banned from holding a direct operational role in F1 until 2013, and he has ruled out returning as a team boss. But Finland's Turun Sanomat reports that Briatore held "subtle negotiations" with F1 chief executive Bernie Ecclestone in Monaco. The article said Ecclestone, 79, is not planning to retire, but does intend to delegate some of his responsibilities and "sees Briatore as a natural successor." Turun Sanomat cites British sources as saying Briatore will shortly be responsible for the acquisition of new sponsors with the Ecclestone-led Formula One Management. The sources said Briton Ecclestone enjoys the negotiations with Grand Prix hosts, promoters and governments and does not intend to delegate those tasks. Ecclestone said last month that his personal friend and business partner Briatore could soon "take up a role in the promotion of Formula One." And at the height of the FOTA/FIA political war last year, when the teams were threatening to set up a rival series, departing president Max Mosley said Briatore "sees himself as the Bernie."

[Buttoneer]

Force Blue back on the high seas.

http://joesaward.wor...o-back-to-work/

[FigJam]

I just wish the F1 paddock would stop still associating with this man.

What has he done to you?

[rko281]

I've listened a radio show from Italy and man, do they had a lot to tell about Briatore and his road to success.
I guess many people in Italy don't like him very much.

[Kooper]

What has he done to you?

its probably that thong picture.... you cannot unsee whats been seen

[jeze]

Using Aftonbladet as a source is seriously dangerous A bit like the Swedish The S*n!

[Villes Gilleneuve]

I don't get one thing in this story - how did a gal like Heidi Klum get involved with a toad like Briatore. Can anyone explain plz?

But, I'm sure it's his witty personality. Women love older fat men with wit.

Severe aesthetic imbalance:

Edited by Villes Gilleneuve, 23 June 2010 - 19:28.

[Eff One 2002]

I don't get one thing in this story - how did a gal like Heidi Klum get involved with a toad like Briatore. Can anyone explain plz?

Tarts like money, and I'm sure Briatore had a lot of hundreds hanging out of his zipper to lure her in.

[VicR]

Tick, tack, tick, tack Alonso, tick tack.

By the way Alx. I was always a huge supporter of you and your career. You should have got that Renault seat.

Edited by VicR, 24 June 2010 - 01:02.

[Biggles Flies Undone]

Force Blue back on the high seas.

http://joesaward.wor...o-back-to-work/

Sounds like he has been domiciled in the UK for the last 18 years and pays his taxes here
Well, a small amount anyway.The International rich don't pay tax.

Edited by Biggles Flies Undone, 24 June 2010 - 13:48.

[whitewaterMkII]

The International rich don't pay tax.

No, they pay attorneys.
And according to the 'trickle down theory' the government will still get a big enough chunk of taxes out of it.
Flavio pays his attorneys to avoid as many taxes as possible, his attorney gets paid and pays some taxes, and the attorney pays his assitants, and they all pay taxes, so on and so forth.

I'm involved with what could be called a 'tax dodge' by sitting on the board of an educational foundation, set up with $800K by my father which he got as a bonus one year, and then 'donated' to an educational foundation he set up to avoid paying any taxes on the 800K. That was 20 years ago and now that foundation is well into the millions. By law we have to give away 6% of the foundations value yearly, whether the foundations investments made 20% income or -5% income. This last year we gave out well over 200K in scholarship grants.
Believe me, that tax dodge of 20 years ago is deeply appreciated by a lot of college kids, who get more money from us, free, then they would ever get from the government.
We have funded at least 3 or 4 kids for their entire college education, and the best thing is they graduated without owing a dime for college tuition loans.
Oh,one other key feature, all 5 of us on the board, my brother and sisters, don't pay ourselves, though we could by claiming some of the 6% disbursed yearly as expenses, salary or what not. The only person who gets directly paid by the foundation is our money manager.

[Tony Mandara]

its probably that thong picture.... you cannot unsee whats been seen

Puh-lease!!

Not even in jest!

[WhiteBlue]

http://www.motorspor...e.asp?ID=398509

Italian reports including La Repubblica report that the financial police Guardia di Finanza have seized EUR 1.5m from Briatore's bank accounts in Italy and Monaco, claiming it is the proceeds of tax fraud.

Lol, Briatore and fraud seems to be a natural link.

Edited by WhiteBlue, 27 January 2011 - 08:53.

[stevewf1]

And from here.

http://joesaward.wor...while-in-italy/

[Owen]

Might this torpedo any last hope of being 'the next Bernie'? (as has often been speculated).

[Ross Stonefeld]

I don't see why it would. Tax issues are pretty common. And Rossi and Capirossi were targeted before this.

[Buttoneer]

Tax issues are often not so much dishonesty as greed and a difference of opinion with the authorities. In that regard, he's shaping up to be a perfect replacement for Bernie.

[drionita]

I guess many people in Italy don't like him very much.

Oh, not really. We Italians love so much "Volpone" like those, they're the "smart people" we'd like to be and cannot be.
We admire them. We love them so much we have one as premier.
We're the Bunga-Bunga-Nation, oh yeah.

Not so funny to be Italian nowadays.

----
Matt
Southern Italy

Edited by drionita, 27 January 2011 - 10:41.

[swerved]

Wow, $100,000 to fill his yacht with fuel.

I wonder how far it will go on a full tank of fuel?

A few laps, before "accidentally" crashing into Gibraltar.

[Buttoneer]

Nice

[WhiteBlue]

Tax issues are often not so much dishonesty as greed and a difference of opinion with the authorities. In that regard, he's shaping up to be a perfect replacement for Bernie.

The FiA has one or two things to say about the commercial running of the sport - like the veto for selling the commercial rights - and I hope they will make sure Briatore stays as far away as possible from controlling the commercial side of F1.

[PayasYouRace]

A few laps, before "accidentally" crashing into Gibraltar.

As if we hadn't had enough shipwrecks over the past couple of years.

[Superbar]

"The raid was only his wife, an underwear, on board."
So it was a pantie raid?

Funny mistranslation. "During the raid only his wife, an underwear model, was on board."

[Villes Gilleneuve]

I don't get one thing in this story - how did a gal like Heidi Klum get involved with a toad like Briatore. Can anyone explain plz?