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€10 billion in unchecked overseas transfers confirmed as ‘a computer error’

caymanThe final Tax and Customs Authority audit and report on the information and control system for transferring money from Portugal to overseas accounts, concludes it is “extremely improbable” that the €10 billion that left the country without the taxman knowing about it, was caused by human hand.

According to the report, the systems failure between 2011 and 2014 that let €12.5 billion slip away without a murmur, was not deliberate, despite it being very convenient for those who should have been investigated by the taxman to check that any taxes due indeed had been paid.

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