EntertainmentGeneral NewsLatin AmericaLegal proceedingsShakira Pop star Shakira reaches a deal with Spanish prosecutors on the first day of tax fraud trial by Andrew Wright November 20, 2023 written by Andrew Wright November 20, 2023 5 comments Bookmark 3 Renowned pop star Shakira has reached an agreement with Spanish prosecutors, bringing an unexpected resolution to her tax fraud trial in Barcelona on its opening day. After previously maintaining her innocence for nearly five years, Shakira chose to accept the terms negotiated with the prosecutors. This agreement entails her acknowledgment of six counts of failing to pay 14.5 million euros (approximately $15.8 million) in taxes to the Spanish government between 2012 and 2014. As per the terms of the deal, Shakira will receive a suspended three-year sentence and be required to pay a fine of 7.3 million euros ($8 million). Additionally, she will make another payment of 432,000 euros ($472,000) in exchange for her suspended sentence. This resolution led to the trial being abruptly called off, which would have originally included testimony from over 100 witnesses spanning several weeks. Prosecutors had initially sought a much harsher punishment, including an eight-year, two-month prison sentence and a fine of 24 million euros ($26 million). This legal battle centered on Shakira’s residence during the disputed period from 2012 to 2014. Prosecutors argued that, despite her official residence being in the Bahamas, Shakira had spent more than half of her time in Spain and should have paid taxes on her worldwide income there. The Bahamas’ significantly lower tax rates had seemingly incentivized her offshore tax arrangement. In a statement issued through her public relations firm, Shakira expressed her rationale for settling the case: “I have made the decision to finally resolve this matter with the best interest of my kids at heart who do not want to see their mom sacrifice her personal well-being in this fight.” She emphasized her desire to move past the stress and emotional toll of recent years and focus on her family and career. Shakira had previously declined a settlement offer from prosecutors in July 2022, citing her belief in her innocence and her trust in the legal process. Her inclusion in the “Paradise Papers” leaks had shed light on her offshore tax arrangements, similar to other high-profile individuals in the music industry. While this particular trial has concluded, Shakira still faces a separate investigation related to alleged tax evasion of 6.7 million euros on her 2018 income. It is evident that her legal troubles with Spain’s tax authorities are not yet fully resolved. In closing, the pop sensation, whose full name is Shakira Isabel Mebarak Ripoll, has experienced a tumultuous journey through the Spanish legal system, ultimately choosing to settle the tax fraud case to prioritize her family and career. Table of Contents Frequently Asked Questions (FAQs) about Shakira Tax Fraud SettlementWhat was the outcome of Shakira’s tax fraud trial in Barcelona?Why did the trial abruptly end after just eight minutes?What were the original charges and potential penalties against Shakira?What was the main issue in this tax fraud case?Why did Shakira decide to settle the case?What is the significance of the “Paradise Papers” in this case?Does Shakira still face legal issues related to taxes?More about Shakira Tax Fraud Settlement Frequently Asked Questions (FAQs) about Shakira Tax Fraud Settlement What was the outcome of Shakira’s tax fraud trial in Barcelona? Shakira reached a last-minute agreement with prosecutors on the opening day of her trial. She accepted six counts of failing to pay 14.5 million euros in taxes and received a suspended three-year sentence plus fines. Why did the trial abruptly end after just eight minutes? The trial was called off because Shakira and prosecutors reached a settlement agreement, avoiding the need for a lengthy court proceeding with over 100 witnesses. What were the original charges and potential penalties against Shakira? Initially, prosecutors sought an eight-year, two-month prison sentence and a fine of 24 million euros. They accused Shakira of failing to pay taxes on her income between 2012 and 2014. What was the main issue in this tax fraud case? The case revolved around Shakira’s residency during the disputed period. Prosecutors argued that she should have paid taxes in Spain due to her substantial time spent there, despite her official residence being in the Bahamas, known for lower tax rates. Why did Shakira decide to settle the case? Shakira cited the best interests of her children and her own well-being as reasons for settling. She expressed a desire to move past the emotional toll of the legal battle and focus on her family and career. What is the significance of the “Paradise Papers” in this case? The “Paradise Papers” leaks revealed offshore tax arrangements of various high-profile individuals, including Shakira, shedding light on her financial affairs. Does Shakira still face legal issues related to taxes? Yes, she faces a separate investigation regarding alleged tax evasion of 6.7 million euros on her 2018 income. Her legal troubles with Spanish tax authorities are not entirely resolved. More about Shakira Tax Fraud Settlement BBC News – Shakira reaches deal with Spanish prosecutors on tax fraud trial Reuters – Shakira reaches deal to end tax fraud trial in Spain The Guardian – Shakira strikes deal with Spanish prosecutors to end tax fraud trial CNN – Shakira reaches agreement to settle tax fraud case in Spain You Might Be Interested In Gaza Hospitals at Risk of Catastrophe as Supplies Dwindle Amid Looming Ground Offensive Anchorage adds to record homeless death total as major winter storm drops more than 2 feet of snow Sleek and shiny torch for Paris Olympics unveiled with carbon footprint in mind and a year to go Islamic State Group Leader Eliminated in Syria by US Drone Strike, Confirms Defense Department Political Differences Emerge Regarding Ukraine Aid Package as Zelenskyy Heads to Washington ‘It was tough’: WWII veterans return to Utah Beach to commemorate D-Day financial newsfinesGeneral NewsLatin AmericaLegal proceedingssettlementShakiraSpainsuspended sentencetax fraudtrial Share 0 FacebookTwitterPinterestEmail Andrew Wright Follow Author Andrew Wright is a business reporter who covers the latest news and trends in the world of finance and economics. He enjoys analyzing market trends and economic data, and he is always on the lookout for new opportunities for investors. previous post Russia puts Ukrainian winner of Eurovision Song Contest on wanted list next post Microsoft Recruits Sam Altman; OpenAI’s Newly Appointed CEO Commits to Probing His Dismissal You may also like Bookmark Sprawling casino and hotel catering to locals is... December 5, 2023 Bookmark Family sues Panera, saying its caffeinated lemonade led... December 5, 2023 Bookmark Texas Woman Seeks Judicial Approval for Abortion Due... December 5, 2023 Bookmark Virginia House Explosion: Homeowner Dies in Blast, Police... December 5, 2023 Bookmark Biden tells donors: ‘If Trump wasn’t running I’m... December 5, 2023 Bookmark Senate Approves Numerous Military Promotions Following End of... December 5, 2023 5 comments LegalEagle22 November 20, 2023 - 8:37 pm Tax cases complicated, residency matters, Spain still checking her Reply GossipGirl November 20, 2023 - 10:34 pm She and Piqué split, now she’s in Miami, drama never ends! Reply Reader01 November 21, 2023 - 12:16 am omg, Shakira’s tax fraud case like whoa, she settle it so fast, no trial, big fine, crazy! Reply NewsJunkie87 November 21, 2023 - 4:17 am Paradise Papers, celebs & taxes, wow, messy financials everywhere Reply MusicFan99 November 21, 2023 - 2:05 pm poor Shakira, so much stress, fam & career comes 1st, deal with tax stuff later Reply Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment. Δ