Irish firm which sent millions to Zurich HQ The 79 year old, who stepped down only days after being re elected as FIFA president for a fifth time, has denied any wrongdoing but conceded that FIFA needs "profound restructuring".
"It is my deep care for FIFA and its interests, which I hold very dear, that has led me to take this decision," he said as he announced his resignation. READ MORE: 'No persons directly employed' by FIFA Ireland Ltd FIFA's Irish business was in existence louis vuitton neverfull knockoff for seven years before its voluntary liquidation in 2008. Today the Herald can reveal the extent of FIFA's business activities in Ireland, including buy used louis vuitton agenda how it: l Received millions in revenue from the sale of licensing rights in relation to the 2002 World Cup. l Transferred vast sums to FIFA in Zurich in the form of licence fees. l Had no directly employed staff in the period covered by its accounts. l Asked Football Association of Ireland (FAI) officials to serve as directors. The sums of money in FIFA Ireland Ltd's accounts were recorded in Swiss Francs (CHF). An analysis of the accounts filed over the course of its years in business shows that it had a combined turnover of CHF 172.7m from the final four months of 2001 to the end of 2006. READ louis vuitton alma mm size MORE: Blazer admitted to judge FIFA panel agreed to take bribes over World Cup That's approximately 113.1m as per the average currency exchange rate between the franc and the euro for the years in question. A combined CHF 171m (approximately 112m) was transferred to FIFA by the Irish firm over the same period. While turnover was in the tens of millions of francs, Irish corporation tax paid on the company's profits comes to a combined CHF 291,355 (approximately 190,866) during its years in business. A FIFA statement last night said that it established the company to enter licence agreements with its Japanese commercial affiliates, "in particular with respect to the 2002 FIFA World Cup in Korea/Japan". "At that time the double taxation treaty entered into by Ireland with Japan gave better protection against international double taxation than the old Swiss/Japanese double taxation treaty," said the statement. "Such arrangements are normal, otherwise one might be paying tax twice on the same income. "The structure was in full compliance with all relevant laws and regulations." The company was said to have been put into liquidation in 2008 because "it became out of date as tax laws changed". Blatter louis vuitton shoes 2014 collection is described in the statement as an "ex officio director" of most of FIFA's subsidiaries. "He did not have or exercise any operational function for this company," it added.
A number of FAI officials served as directors of the company, including former general secretary Brendan Menton, though he left the board of FIFA Ireland Ltd as far back as 2003. The FIFA statement said that neither the FAI nor its officials gained financially from FIFA Ireland Ltd, with the FAI stating that it made "no financial gain or loss from this company". Former FAI presidents Michael 'Milo' Corcoran and David Blood were also directors and remained in place until the company was wound up.
Prev: louis vuitton neverfull nordstrom
Next: louis vuitton briefcase womens