Is the CEO Start The brilliant financial institution Cristo Gorman was fined 5 365,651 (approximately $ 500,000 in direct transfer). According to British Revenue (HMRC, HM Revenue and Customs), this amount was levied for non-payment of tax.
The administrator was fined after being late and ignoring various warnings to present his statements Lines For the 2017-2018 financial year. In terms of revenue, his fee for that year was £ 720,495 ($ 975,000).
Corman’s spokesman said cnbc The Estonian millionaire “devoted much time” to regulating his personal financial management: “His tax returns have already been completed and he has paid a substantial fine for the delay,” he adds.
Wise’s success story
Founded by Gorman in 2011, Wise offers highly competitive rates for financial transactions to other countries. Formerly known as Transforvice, the company went public in July, now worth 8 8 billion ($ 11 billion).
The company’s shares have risen nearly 40%. However, on Tuesday (28) the tax breach news weighed heavily, when Wise’s shares fell about 3%.
Finally, Gorman’s tax installment may violate other existing UK rules. The Financial Conduct Commission, another British body, may revoke approval to continue fulfilling its role in the company in the event of a recurrence of the truth in the future.
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