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13-10-2023, 09:11 AM
The court heard that Ecclestone had agreed to pay a civil settlement of £652,634,836 (S$1,088,725,433 Singapore Dollars) in respect of sums covering tax, interest and civil penalties over an 18-year period from 1994 to 2012.
The settlement includes a £330 million penalty.
During that investigation, Ecclestone was offered the chance to correct any mistakes in his tax and pay what was owed ,plus a penalty through a formal civil process.
However, Richard Wright, prosecuting, told the court that during a meeting with investigators on July 7 2015, the billionaire failed to declare a trust in Singapore that contained around $650 million, worth about £400 million at the time.
The court heard that Ecclestone had said “no” when asked by HMRC officers whether he had any links to further trusts “in or outside the UK”.
https://www.telegraph.co.uk/news/2023/10...o%20prison.
The settlement includes a £330 million penalty.
During that investigation, Ecclestone was offered the chance to correct any mistakes in his tax and pay what was owed ,plus a penalty through a formal civil process.
However, Richard Wright, prosecuting, told the court that during a meeting with investigators on July 7 2015, the billionaire failed to declare a trust in Singapore that contained around $650 million, worth about £400 million at the time.
The court heard that Ecclestone had said “no” when asked by HMRC officers whether he had any links to further trusts “in or outside the UK”.
https://www.telegraph.co.uk/news/2023/10...o%20prison.
