Baugur Tax Case Reopens in Court Skip to content

Baugur Tax Case Reopens in Court

By Iceland Review

Jón Ásgeir Jóhannesson, former CEO and chair of the defunct investment company Baugur Group, his sister and business associate Kristín Jóhannesdóttir and Tryggvi Jónsson, former CEO of Baugur, all maintained their innocence in charges of tax violations in the reopening of the Baugur case in Reykjavík District Court on Monday.

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Jón Ásgeir Jóhannesson. Photo by Páll Stefánsson.

The charges are extensive and go back as far as 1998, the year Baugur was founded. Jóhannesson and Jónsson are, among other charges, accused of having failed to report some of their taxable income at Baugur, including those received in the form of life insurance premiums and car allowances, Fréttabladid reports.

Jóhannesdóttir, who was managing director of the family-owned investment company Gaumur, is among other charges accused of having handed in a false tax return for the company and having failed to include all taxable income as its managing director.

Defendants have now finished giving their statements and witnesses have appeared before the court, including Stefán Hilmarsson, who was the auditor of Gaumur and later financial director of Baugur.

Click here to read more about the Baugur case and here to read about the company going bankrupt.

ESA

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