Tax Authorities: Steinmetz Owes $1.1 BillionJanuary 02, 13
Steinmetz claims he is a member of the class of beneficiaries of the various entities owned directly or indirectly by two foundations, the Balda and Vessna Foundations. The foundations are what are generally known and referred to as "The Beny Steinmetz Group" or "BSG."
According to current Israeli law, such entities should be taxed in
Once, however the law changed, Steinmetz stated that the company was formed by a Belgian and that he himself has moved his center of life from
The question of who controls the foundations and companies is at the heart of the dispute. In recent interviews and media mentions, including the BSG website, Steinmetz insists he is a non-executive adviser to BSG.