Original URL: http://www.theregister.co.uk/2007/10/19/cisco_denies_brazil_tax_fraud/
Cisco denies Brazilian tax lambada
Shhh! That's the forbidden fraud
Posted in Data Networking, 19th October 2007 15:03 GMT
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Cisco has denied wrongdoing in the tax fraud scandal that engulfed its Brazilian tentacle earlier this week.
In a statement released to newspapers in the country, Cisco said: "Analysing the facts to which we have access, we do not believe that Cisco acted in an inappropriate manner."
According to Reuters, the statement said four of Tuesday's 44 arrests [1] were Cisco employees.
Brazilian authorities accuse the firm of illegally importing $500m of kit over the last five years. With interest and fines, the government estimates it owes $826.4m.
Cisco said it does not import goods to Brazil itself, and instead relies on middlemen. ®