Troja and Cymbal handled by Prosecutor
WILLEMSTAD.-The public prosecutor of the Prosecutor General of Curaçao, Sint Maarten and Bonaire, Sint Eustatius and Saba (“OM”) has reach a settlement with former tax service provider KPMG Meijburg & Co Caribbean B.V. (“Meijburg Caribbean”) to prevent further criminal charges. Meijburg Caribbean has accepted the transaction offer. Before 2015, the Meijburg Caribbean handled as part of the companies KPMG Tax & Legal Services B.V.
In Curaçao and the Netherlands, as a result of the extensive criminal investigations Troja and Cymbal, several persons have been convicted for, among other things, money laundering with activities that are referred to as “dollar swiping” or “dollar tourism”. In addition, approximately 1 million credit card transactions to tourists – mainly of Venezuelan nationality – were paid out at USD 320 million in the years 2004 to 2014. The transactions were disguised as purchases of clothing or medicines in the books of the company that channeled these credit card transactions (“the swipe company”).
In the years 2007 to 2013, Meijburg Caribbean provided the profit tax returns for the swipe company. By not reporting pre-defined swipe activities when making these tax returns, while they were aware of this in the opinion of the Public Prosecution, Meijburg Caribbean did not act as it a gatekeeper should be.
The Public Prosecution Office is of the opinion that Meijburg Caribbean is guilty of criminal offense by making incorrect tax returns. At the same time, the Public Prosecution Office is of the opinion that there are good reasons to settle the matter through a transaction.
Meijburg Caribbean is no longer operational as KPMG Meijburg & Co Caribbean B.V. shortly after the judicial authorities have searched its office building. A transaction has also already been entered with the accountancy firm concerned, KPMG. In addition, the tax disadvantage for the tax authorities has already been compensated by the swipe company by means of additional assessments and fraud penalties.
On the basis of this transaction, Meijburg Caribbean will pay an amount of 140,000 Antillean guilders as transaction sum to the Country of Curaçao. A transaction has also been entered into with the person who, according to the Public Prosecution Office, actually headed the alleged conduct by Meijburg Caribbean. The latter will pay a transaction sum of 65,000 Antillean guilders to the Land Curaçao.
