Tax problems and merger for Kirch.An old tax case is pursuing German media mogul Leo Kirch Leo Kirch (born 21 October 1926 in Volkach, Bavaria) is a German media entrepreneur. LifeLeo moved shortly after he was born to the nearby town of Würzburg. After completing high school he studied marketing and management as well as mathematics at the University of , boss of Beta. He is accused of having evaded taxes on an undeclared transaction worth $250 million. The word in some German newspapers is that, if found guilty, Kirch could face up to 10 years in jail. According to official reports, the tax evasion The process whereby a person, through commission of Fraud, unlawfully pays less tax than the law mandates. Tax evasion is a criminal offense under federal and state statutes. A person who is convicted is subject to a prison sentence, a fine, or both. goes back to 1990, when Kirch sold film and TV rights for $330 million to Otto Beisheim's MH MedienHandels. A few months later, Beisheim's company sold the same rights to Sat1 and ProSieben for $937 million, yielding Beisheim profits of more than $600 million. German tax authorities seem to believe that Beisheim turned some of that profit back to Kirch and that he failed to report it as taxable income Under the federal tax law, gross income reduced by adjustments and allowable deductions. It is the income against which tax rates are applied to compute an individual or entity's tax liability. The essence of taxable income is the accrual of some gain, profit, or benefit to a taxpayer. . Beisheim is a Swiss entrepreneur who owns other conglomerates such as Kauhof, Vobis, TUI tui: see honeyeater. (Telephone User Interface) The combination of Touch-tone input from the telephone keypad coupled with speech output from the connected voicemail or IVR application. and LTU LTU Luleå Tekniska Universitet (Luleå University of Technology; formerly Luleå Tekniska Högskola) LTU Lithuania LTU La Trobe University (Australia) LTU Lufttransport-Unternehmen GmbH and who has worked closely with Kirch in the past. Last year, German tax authorities inspected Kirch's offices and his Swiss residence. In other news, Kirch has managed to merge his digital TV platform, DF-1, with Premiere, the pay-TV service Kirch jointly owns with CLT-UFA. The Munich-based DF-1 channels will reportedly be moved to the Hamburg headquarters of Premiere by January 1998. At the same time, Premiere will convert to digital. The unified service will retain both the Munich and the Hamburg bases. Kirch has reportedly lost some $350 million on the DF-1 venture. |
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