The Panama Papers Published


tay
#1
How do blacklisted companies accused of funneling resources into war zones continue to do business? How do criminals maintain companies behind a veil of secrecy? How do corporations try to dodge millions in taxes while impoverished governments struggle to provide citizens with basic health care?

Behind many major global scandals in recent decades has been one common thread: the shadowy world of offshore finance. The Panama Papers exposes the inner workings of this secretive industry through an investigation based on more than 11.5 million leaked records from a little-known but powerful law firm based in Panama: Mossack Fonseca.

Secret files reveal more Canadians using offshore tax havens - Canada - CBC News


Panama Papers: Mossack Fonseca leak reveals elite's tax havens - BBC News


Panama Papers - All articles by Süddeutsche Zeitung
 
Tecumsehsbones
#2
Quote: Originally Posted by tay View Post

How do blacklisted companies accused of funneling resources into war zones continue to do business? How do criminals maintain companies behind a veil of secrecy? How do corporations try to dodge millions in taxes while impoverished governments struggle to provide citizens with basic health care?

Don't tell me, let me guess.

Is it "Conservatives?"
 
tay
#3
Not many political definitions have been cited and since there are so many involved there will be a mixed bag possibly......



David Cameron's dad and Tory MPs named in leak about tax haven firm

David Cameron's dad and top Tories named in leaked 'Panama Papers' about global tax haven firm - Mirror Online


Iceland’s prime minister is this week expected to face calls in parliament for a snap election after the Panama Papers revealed he is among several leading politicians around the world with links to secretive companies in offshore tax havens.

Iceland’s PM faces calls for snap election after offshore revelations | News | The Guardian


Tax office investigating 800 Australians identified in financial record leak

Panama Papers: Tax office investigating 800 Australians identified in financial record leak - ABC News (Australian Broadcasting Corporation)

Quote: Originally Posted by Tecumsehsbones View Post

Don't tell me, let me guess.

Is it "Conservatives?"

When the American names start rolling out it may change the election. Of course I am thinking of the Clintons......

A prominent Canadian lawyer, husband to a Liberal senator, moved nearly $2 million to secretive financial havens while he was locked in battle with the Canada Revenue Agency over his taxes, according to documents in a massive leak of offshore financial data that were shared exclusively in Canada with CBC News.

Senator's husband put $1.7M in offshore tax havens - Canada - CBC News


This recent article already shows how corrupt the Clinton Foundation is...

https://harpers.org/blog/2015/11/shaky-foundations/


It will be interesting to see if Blackwater founder Erik Prince comes up in these leaks. Already being investigated for money laundering, ties to Chinese intel, mercenary services etc… https://theintercept.com/2016/03/24/blackwater-founder-erik-prince-under-federal-investigation/

One of Hillary Clinton’s top campaign officials, Mark Penn, provided public relations services for Blackwater when she was running for dem nomination 2007-2008. Penn is one of Clinton’s longest-serving and most important advisers, perhaps second only to her husband in influence.

Further complicating matters for Clinton is that Blackwater’s first contract with the federal government actually wasn’t under the Bush administration. It was in 1998, according to company officials, when Clinton’s husband was in the White House.

http://nypost.com/2007/10/06/blackwatergate-linked-to-hill/
 
Tecumsehsbones
#4
Oh, dear. You really didn't understand at all, did you?
 
tay
#5
A British banker who spent two decades living in communist North Korea set up a secret offshore finance company allegedly used by the Pyongyang regime to help sell arms and expand its nuclear weapons programme.

Nigel Cowie – a fluent Korean and Chinese speaker, who studied at Edinburgh University – was behind a Pyongyang front company, DCB Finance Limited, registered in the British Virgin Islands, papers show.

He says DCB Finance was used for legitimate business and that he was unaware of any unlawful transactions.

Cowie moved to North Korea in 1995 when Kim Jong-il was in power, and went on to become head of its first foreign bank, Daedong Credit Bank. Initially operating out of a ramshackle Pyongyang hotel with a staff of three, Cowie led a consortium that in 2006 bought a 70% stake in the bank.

Giving his address as Pyongyang’s International House of Culture, he registered DCB Finance Limited, an offshoot of the bank, in the BVI in summer 2006, with a senior North Korean official, Kim Chol-sam. The Panamanian law firm Mossack Fonseca incorporated the company, despite North Korea being an obvious high-risk destination.

That July Kim Jong-il signalled his defiance of US sanctions by firing seven ballistic missiles. In October, North Korea carried out its first nuclear weapons test with a controlled underground explosion. The ensuing diplomatic crisis saw the UN impose asset freezes and and travel and trade bans.

more

British banker set up firm ‘used by North Korea to sell weapons’ | News | The Guardian
 
lone wolf
Free Thinker
+1
#6  Top Rated Post
Quote: Originally Posted by Tecumsehsbones View Post

Oh, dear. You really didn't understand at all, did you?

What's to understand? Investing offshore isn't illegal. Tax evasion is. Greed is greed no matter whose colours you hide it under.
 
mentalfloss
#7
Fallout From Panama Papers Echoes Around The World

One law firm, 11.5 million files.

The massive trove of emails, contracts and other papers from Panamanian law firm Mossack Fonseca is being called the largest document leak in history.

For more than a year, a huge team of international investigative journalists sifted through the data. On Sunday, the German paper Süddeutsche Zeitung and members of the International Consortium of Investigative Journalists began publishing stories linking titans of business and politics — including 12 former and current heads of state — to secret offshore bank accounts and shell companies set up by Mossack Fonseca.

As we reported Monday, much of the behavior revealed by the leaked documents isn't itself a crime — it's legal to have offshore bank accounts. But the accounts can be used to launder money or hide incriminating connections. The team of journalists has said it would release a full list of people and corporations involved next month.

Around the world, the revelations are prompting public backlash, official investigations and at least one high-profile resignation.

In some countries, though, they're being met by a different kind of resignation — a familiar sigh, and collective shrug.

Here's a sampling of the fallout so far.

Iceland

The prime minister of Iceland resigned on Tuesday after widespread outrage, massive street protests and calls for him to step down.

The Panama Papers say that Sigmundur David Gunnlaugsson and his wife had secretly set up offshore accounts through a shell company that was seeking money from failed Icelandic banks that received government bailout funds.

"Gunnlaugsson said he and his wife paid all their taxes and have done nothing illegal," The Associated Press reports. "He also said his financial holdings didn't affect his negotiations with Iceland's creditors during the country's acute financial crisis. Those assertions did little to quell the controversy."

Fallout From Panama Papers Echoes Around The World : The Two-Way : NPR
 
tay
#8
ummmmmm...... http://forums.canadiancontent.net/in...published.html
 
EagleSmack
#9
Tay started thread already.


Mods please merge.
 
EagleSmack
#10
Panama Papers Official Thread
 
Locutus
#11
Mr. Spiderman merge these threads!

Quote: Originally Posted by mentalfloss View Post



fukk you
 
EagleSmack
#12
Well done
 
bill barilko
#13
Click Here for some insight into a situation that seems to be beyond your appallingly limited comprehension
 
darkbeaver
Republican
+1
#14
Bill they don't even understand your instructions.

Click Here! They won't be able to do that! They won't have viable offspring anyway, relax. They ;re self contained.
 
Kreskin
#15
Looks like this was unearthed in FIFA investigation.
 
tay
#16
The Broken at the Top report by Oxfam in the US found that the companies, which together made nearly $4 trillion in profits globally between 2008 and 2014, received a staggering $11 trillion in US government support over the same period. Oxfam calculates that during this period, these companies collectively received approximately $27 in government support for every $1 they paid in federal taxes.

The revelations come in the wake of the Panama Papers scandal that, once again, revealed how powerful individuals and companies are using tax havens to hide their wealth and dodge taxes.

Robbie Silverman, Senior Tax Advisor at Oxfam said: "Yet again we have evidence of a massive systematic abuse of the global tax system. We can't go on with a situation where the rich and powerful are not paying their fair share of tax, leaving the rest of us to foot the bill. Governments across the globe must come together now to end the era of tax havens."

Tax avoidance has become standard business practice across the globe. Oxfam estimates that 90 percent of the top 200 global companies use tax havens.

On Tuesday, the European Commission announced plans to make big companies more transparent about where they pay tax. Oxfam believes that the limited scope of these proposals makes them almost useless for identifying where tax avoidance may be happening. It is urging the UK Government to push for stronger rules to ensure multinationals report their taxes and profits in all countries where they do business, including tax havens and developing countries.

Silverman said: "The same tricks and tools used by multinational companies to dodge tax in the US are being used to cheat countries across the world out of their fair share of tax revenues, with devastating consequences. Poor countries are particularly hard hit, losing an estimated $100 billion a year to corporate tax dodgers. This is enough to provide safe water and sanitation to more than 2.2 billion people."

The 50 companies spent approximately $2.6 billion lobbying the US government to maintain favourable tax rules and other beneficial policies between 2008 and 2014. This lobbying generates an incredible rate of return. Oxfam estimates that for every $1 spent on lobbying, the 50 big US companies collectively received $130 in tax breaks and more than $4000 in subsidies from the US government.

Silverman added: "When corporations don't pay their fair share of taxes governments are forced to cut back on essential services or levy higher taxes on the rest of us. It's time governments stopped pandering to big business and started working for the good of their citizens."

Broken at the Top outlines a range of tricks, tools, and loopholes companies use to avoid paying tax. One of the most common is 'profit shifting', where a company declares its profits in a low or zero tax jurisdiction instead of where they actually do business. In 2012 for example, US companies reported $80 billion of profits in the tiny island of Bermuda - a British Overseas Territory - more than their reported profits in Japan, China, Germany and France combined.

Oxfam is calling for governments to work together to ensure multinational companies and wealthy individuals pay their fair share of tax. This must include measures to ensure companies pay taxes where they do business and to stop the secrecy that enables companies and individuals to hide their money from tax authorities.

Notes to editors:

Download Oxfam's new report , Broken at the Top - How America's dysfunctional tax system costs billions in corporate tax dodging.


Oxfam has criticised the loopholes in the European Commission's new corporate tax proposals which would mean companies could still dodge tax by using territories not included in the rules.


Fifty biggest global US companies stash $1.3 trillion offshore | Press releases | Oxfam GB
 
lone wolf
Free Thinker
+1
#17
Quote: Originally Posted by Tecumsehsbones View Post

Don't tell me, let me guess.

Is it "Conservatives?"

Cons is one cloak. Libs is another. Dems is another and Reps is one more - they're all window dressing to hide a greedy bastard who'll gladly rob you blind so his corporate friends can reward him greatly. NDP? They'd prefer to let a Union walk all over you
 
gopher
No Party Affiliation
+1
#18
... and some folks still say there is no such thing as welfare for the rich - that should settle the argument once and for all
 
tay
#19
From the Fusion news organization, perhaps the best documentary yet on the Panama Papers and how various government agencies block access to info from the regular non connected sheeple.






www.youtube.com/watch?v=TvPBM8zAc1o
 
taxslave
Free Thinker
#20
Quote: Originally Posted by tay View Post

The Broken at the Top report by Oxfam in the US found that the companies, which together made nearly $4 trillion in profits globally between 2008 and 2014, received a staggering $11 trillion in US government support over the same period. Oxfam calculates that during this period, these companies collectively received approximately $27 in government support for every $1 they paid in federal taxes.

The revelations come in the wake of the Panama Papers scandal that, once again, revealed how powerful individuals and companies are using tax havens to hide their wealth and dodge taxes.

Robbie Silverman, Senior Tax Advisor at Oxfam said: "Yet again we have evidence of a massive systematic abuse of the global tax system. We can't go on with a situation where the rich and powerful are not paying their fair share of tax, leaving the rest of us to foot the bill. Governments across the globe must come together now to end the era of tax havens."

Tax avoidance has become standard business practice across the globe. Oxfam estimates that 90 percent of the top 200 global companies use tax havens.

On Tuesday, the European Commission announced plans to make big companies more transparent about where they pay tax. Oxfam believes that the limited scope of these proposals makes them almost useless for identifying where tax avoidance may be happening. It is urging the UK Government to push for stronger rules to ensure multinationals report their taxes and profits in all countries where they do business, including tax havens and developing countries.

Silverman said: "The same tricks and tools used by multinational companies to dodge tax in the US are being used to cheat countries across the world out of their fair share of tax revenues, with devastating consequences. Poor countries are particularly hard hit, losing an estimated $100 billion a year to corporate tax dodgers. This is enough to provide safe water and sanitation to more than 2.2 billion people."

The 50 companies spent approximately $2.6 billion lobbying the US government to maintain favourable tax rules and other beneficial policies between 2008 and 2014. This lobbying generates an incredible rate of return. Oxfam estimates that for every $1 spent on lobbying, the 50 big US companies collectively received $130 in tax breaks and more than $4000 in subsidies from the US government.

Silverman added: "When corporations don't pay their fair share of taxes governments are forced to cut back on essential services or levy higher taxes on the rest of us. It's time governments stopped pandering to big business and started working for the good of their citizens."

Broken at the Top outlines a range of tricks, tools, and loopholes companies use to avoid paying tax. One of the most common is 'profit shifting', where a company declares its profits in a low or zero tax jurisdiction instead of where they actually do business. In 2012 for example, US companies reported $80 billion of profits in the tiny island of Bermuda - a British Overseas Territory - more than their reported profits in Japan, China, Germany and France combined.

Oxfam is calling for governments to work together to ensure multinational companies and wealthy individuals pay their fair share of tax. This must include measures to ensure companies pay taxes where they do business and to stop the secrecy that enables companies and individuals to hide their money from tax authorities.

Notes to editors:

Download Oxfam's new report , Broken at the Top - How America's dysfunctional tax system costs billions in corporate tax dodging.


Oxfam has criticised the loopholes in the European Commission's new corporate tax proposals which would mean companies could still dodge tax by using territories not included in the rules.


Fifty biggest global US companies stash $1.3 trillion offshore | Press releases | Oxfam GB

So have they done anything illegal? Or just not paying what some lefty organization wants them to pay?
And when did Oxfam become a political organization?
 
tay
#21
Not from the Onion........


Experts quit Panama’s transparency committee over lack of transparency

https://www.thestar.com/news/world/2...nsparency.html
 
Dixie Cup
Conservative
+1
#22
I'm not sure that CBC is a reliable source for anything now-a-days.


JMO