- 32 -
Exhibits 694-ZP(6) [the Jan. 21, 1986, Morgan Bank
letter] and 694-ZP(7) [the August 1986 Morgan Bank
letter] are both form letters from Morgan, not the
Central Bank. * * * No printouts were attached to these
Exhibits and thus they also cannot support Respondent’s
claim that the printouts showed the pecuniary benefit.
Finally, the parties have stipulated that Exhibit
692-ZN(23) relates to an interest payment for January
1985, well before the pecuniary benefit was eliminated.
(Exhibit 697-ZS, p. ST004989)[15] * * * Therefore, this
document [Exhibit 692-ZN(23)], like the others, cannot
support Respondent’s claim.
B. Substantial Inconsistency Concerning the Central Bank’s
Purported Withholding Tax Payments on Petitioner’s Behalf
We agree with respondent that there is a substantial
inconsistency in the evidence concerning the Central Bank’s
15 Petitioner’s argument overstates the parties’
stipulation regarding Joint Exhibit 697-ZS. As indicated supra,
Joint Exhibit 697-ZS lists the restructuring debt loans and
interest payments subject to the March 1984 Brazilian IRS ruling.
This exhibit further lists and summarizes the related DARF’s and
other documentation in the record that were issued in connection
with each of the purported withholding tax payments petitioner
contends the Central Bank made on petitioner’s and the other
foreign lenders’ behalf. In that regard, the parties stipulated:
683. The Court of Appeals for the D.C. Circuit,
163 F.3d 1363, 1369 (D.C. Cir. 1999) remand requires
that the Court determine, among other things, “which of
Riggs’ loans were subject to the Minister’s ruling.”
The parties agree that Joint Exhibit 697-ZS shows the
amount of claimed withholding tax in the column
captioned “Petitioner’s Tax Amount (without subsidy
reduction)” relating to loans which are subject to the
Minister of Finance’s ruling * * *
684. Joint Exhibit 697-ZS summarizes the
information set forth on the DARFs associated with the
CGA and DFA interest payments which are subject to the
Minister of Finance’s ruling. The DARFs and
accompanying documents are included in the record as
Joint Exhibits 661-YI through 694-ZP.
Page: Previous 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 NextLast modified: May 25, 2011