SOTHEBY’S “HELPED RICH ART LOVER SKIRT TAXES”

On 6 November, the Mail Online reported allegations that Sotheby’s helped an art collector dodge millions of dollars in New York sales taxes, according to a lawsuit laid from the state attorney general, accusing the prominent auction house of accepting bogus documentation to spare a top client a tax bill.  The case involves $27 million worth of purchases of pieces by such artists as painter Jean-Michel Basquiat and sculptor Anish Kapoor, and it portrays Sotheby’s as so eager to keep a top client’s business.  The collector’s art holding company was BVI-based Porsal Equities Ltd, which settled with the attorney general’s office in 2018 and agreed to pay $10.75 million in taxes, damages and penalties 

https://www.dailymail.co.uk/wires/ap/article-8922969/New-York-AG-Sothebys-helped-rich-art-lover-skirt-taxes.html

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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