View Full Version : Upfront tax

06-27-2010, 12:43 PM
Is there some Spanish tax law that would require a non-resident to have to pay tax upfront before profits from an oil futures contract will be released by the authorities?

Or does that sound like a scam?

06-27-2010, 02:38 PM
It indeed sounds like a scam, of the advancee-fee (http://en.wikipedia.org/wiki/Advance-fee_fraud)type. I recommend that you avoid having further dealings with these people.


06-28-2010, 03:11 AM
Thank you for the response. We are trying to prove this to my friend who is in Spain right now thinking he is going to settlement. Is there some way you can emphatically prove that no such upfront tax exist in Spain so as to convince him. He claims that he has meet officials from the bank of Spain and other Spanish authorities that have convinced him to raise and pay over 11.5M USD into the bank of Spain. Please we are desperate for help. Our local police too think it is a scam but they are powerless to do anything.

Peter Harvey
Vic Australia

06-28-2010, 12:35 PM
Hi Peter

Your friend might be suffering from the so called "true believer syndrome", common in victims of these types of scams. I recommend that you report this to the Spanish authorities, as it is probable that your friend will not listen to reason.

You might want to convince him to arrange with these 'officials' an escrow service of his choice. Of course, they will refuse.