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The "Panama Papers" Data Leak - Largest in Journalistic History
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007 wrote: View PostI've just been reading about all this, we're going to be getting more and more information from this for a long time.
One thing I found really interesting is that the disappearance of all the gold stolen during Britain's "crime of the century" (The Brink's Mat Robbery) might be explained in the some of the Panama Papers, we'll probably see a lot more stuff like that...
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The thing that scares me, is how the Star keeps mentioning that much of this is LEGAL ...
Much of this is perfectly legal. For some international business transactions, offshore company registration is a logical choice. And there are international laws and treaties facilitating the legal flow of money into tax-friendly jurisdictions.
But it comes at a tremendous cost to the public interest.
http://www.thestar.com/news/world/20...rs-a-year.html
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Joey wrote: View PostThe thing that scares me, is how the Star keeps mentioning that much of this is LEGAL ...
“A businessman can keep investing and reinvesting profits in different parts of the world and stack profits up in a BVI vehicle,” said Kenney, who is the brother of Jason Kenney, the former federal cabinet minister. “It’s tax efficient. It’s not unlawful. It’s not tax evasion. It’s lawful tax avoidance.”
When it comes down to it the big banks, top law and accounting firms are in on what are elaborate mechanisms to hide wealth. This is exactly what the electorate in the US is so pissed off about. And I shall bet that the Mossack firm is not the only firm in the hiding business.
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Bendit wrote: View PostI loved this one especially.....
That last one must have just rolled off his tongue. Jesus, wonder where some of these people get their convoluted sense of elitism in ethics. They can justify any shit it seems with their elitist bs. In effect he is saying this kind of "tax avoidance" is not available to the peons so fuck off.
When it comes down to it the big banks, top law and accounting firms are in on what are elaborate mechanisms to hide wealth. This is exactly what the electorate in the US is so pissed off about. And I shall bet that the Mossack firm is not the only firm in the hiding business.A key that opens many locks is a master key, but a lock that gets open by many keys is just a shitty lock
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Mossack Fonseca Official Statement and Reply:
http://www.mossfon.com/media/wp-cont...e_4-1-2016.pdf
Basically what you'd expect: "We've done nothing wrong. People are trying to smear us. When we learn about wrong-doing, we discontinue services. Tax evasion and Tax avoidance are different things." blah blah blah.
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Joey wrote: View PostMossack Fonseca Official Statement and Reply:
http://www.mossfon.com/media/wp-cont...e_4-1-2016.pdf
Basically what you'd expect: "We've done nothing wrong. People are trying to smear us. When we learn about wrong-doing, we discontinue services. Tax evasion and Tax avoidance are different things." blah blah blah.Last edited by rocwell; Mon Apr 4, 2016, 08:41 PM.
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Joey wrote: View PostMossack Fonseca Official Statement and Reply:
http://www.mossfon.com/media/wp-cont...e_4-1-2016.pdf
Basically what you'd expect: "We've done nothing wrong. People are trying to smear us. When we learn about wrong-doing, we discontinue services. Tax evasion and Tax avoidance are different things." blah blah blah.
Maybe that Kenney bloke is advising them lol. Must be a taxation ambulance chaser lawyer. The bold for me is zero degrees of separation. Ya know...if that was the case why go off shore and keep it secret? Like, ask Rockwell what he has to do avoid tax on his small potato bets (no insult intended Rocky) compared to Jackie Chan and the Premier of Iceland etc. Waiting on some more identifiable locals.
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rocwell wrote: View PostThis is an end to Mossack. I doubt it's going to change offshore 'scenery' though as this company is just a part of uhm.. let's say monopoly which helps to make all these things possible. And yeah.. I believe they haven't done anything illegal in the countries they have operated.. so I do not expect any charges against founders or senior members. Let's not forget, these guys have been in such business for a very long time, so when it comes to the law.. they're smarter than most of us. (chuckles) I'm pretty sure Mossack's founders and senior members were ready for 'the shit to go down' for some time now.. such massive investigation doesn't go unnoticed, especially for the companies with high-level clients and contacts.
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Um, tax evasion and tax avoidance are different things..... There isn't anything wrong with tax avoidance. Many would argue, as courts have for decades, that companies and citizens only have a duty to pay so much tax as demanded at law.
The problem with this stuff if that it really isn't about tax avoidance or even evasion, rather, it's about corruption and criminal activities. You don't go to Panama even for tax avoidance or even for tax evasion - you go there to hide money received from corruption/crime. This has been well known for years and years. I remember a couple years ago we were doing some tax planning for a deal and one of the accountants wanted to put something in Panama and everyone starting yelling NO! in unison. There are places you don't want to be associated if you're a legit businessman.
And no one in Canada should be too high and mighty about this. We are inviting the Chinese to buy up tens of millions (hundreds of millions?) in real estate deals in Canada where properties are sold 4 and 5 times back-to-back - why do you think that is? A lot of that is moneyis just as dirty as what's in Panama and has now disappeared into the ether and it has been wholly backed and supported by BC and the feds for years.
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I only have one question, is journalistic history somehow different than regular history?
This is going to be a fascinating story to follow.Heir, Prince of Cambridge
If you see KeonClark in the wasteland, please share your food and water with him.
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