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argentina

Football Legend’s Earrings Taken to Pay Taxes

September 20, 2009 · 0 comments

maradona.jpg

Diego Maradona, formerly referred to by legions of football fans as “the Golden One”, lost more than weight when he checked into a weight loss clinic at the Hotel Palace health spa in Merano, Italy. The 48 year old former football (yeah, that’s soccer to my US readers) standout checked into the spa in an attempt to get his weight under control. While he was there, the Italian police confiscated the earrings he was wearing; the three diamond earrings were estimated to be worth just under $6,000.

That may seem like a lot – but it’s just a fraction of the more than 31 million euros (about $45 million) that Maradona allegedly owes. Tax authorities in Italy claim that Maradona accrued the taxes in the 80s and 90s when he played for the league club Napoli. His time with the team earned him a spot as on the list as one of the greatest players of all time. An internet vote for FIFA Player of the Century award tied him with football great Pelé.

You’d think Maradona would learn his lesson. Three years ago, Italian police confiscated two Rolex watches worth about $15,000 when he showed up to play in a benefit match. The police were allowed to make the seizure due to a court order that authorizes authorities to take anything “within plain sight” that belongs to Maradona.

Maradona, for his part, has taken the Richard Hatch approach and claims that has always insisted that the taxes are the responsibility of team Napoli as his employer and not his. (Psst, Maradona, it didn’t work for Hatch, either.)

Maradona is no stranger to controversy. He has previously faced suspensions and expulsions for failing doping tests for cocaine and ephedrine. Maradona’s history of drug abuse lead to significant problems with his weight. After a stomach stapling operation failed, Maradona headed to the Dolomites to try out a new weight loss regime… It seems that he lost a lot more than he bargained for.

(Image in the public domain.)

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Argentine Farm Tax Crisis Worsens

March 27, 2008 · 1 comment

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I went to the supermarket on yesterday to pick up some milk, strawberry cream cheese (my daughter’s current favorite) and orange juice. I left with more than $100 in groceries. Among the culprits that jacked up my prices? Yogurt – now more than $1 per serving (about 60 cents earlier in the year). Cereal – almost $5 per box for a small box of Special K, no less. Pancetta – nearly $10.

There’s no doubt that prices for food are increasing. But who’s getting the profits?

Argentine farmers say that it’s not them. They are striking over an increase in taxes on major export goods – in some cases as much as 45% – which they say will eat more into shrinking revenues. The government’s response is that the increases are necessary.

The strikes have already hit domestic shops in Argentina – and exports are now being affected, with some companies saying they cannot fulfil their contracts. In response, the government has said it will “use force if necessary” to get food to the markets. The strike, in its third week, has already resulted in several major scuffles and arrests. Many more are expected before the strike ends.

What kind of goods are we talking? Argentina is a leading exporter of beef, corn, soy oil and soybeans. As prices have risen across the world, Argentine farmers have seen increased demand for these products. However, they argue that any increase in revenue will be offset by disproportionate increases in taxation.

What will this mean for foreign markets, as in the US? I’m not sure. But my money is on increased beef prices and more folks than ever eating chicken…

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