Tuesday, May 30, 2017

Panama Papers law firm boss sees tax shelter boom in US

PANAMA CITY (AFP): The co-founder of the law firm at the center of the Panama Papers scandal says the fallout has set off a "thriving" boom in the creation of tax shelters in the United States.

Juergen Mossack, who partnered with Ramon Fonseca to create the Panamanian firm Mossack Fonseca, said in a document obtained Thursday by AFP that after the Panama Papers leak a year ago, the number of new tax shelters created has fallen by 30 percent in Panama and elsewhere.

"However, jurisdictions such as Delaware, Nevada and others located in the United States, where virtually no due diligence is required... incorporations are thriving!" Mossack said. "Whilst Panama tries hard to be whiter than white, others are profiting," he wrote.

The Panama Papers, published a year ago in a leak of more than 11 million documents belonging to Mossack Fonseca, spurred fresh government action against the secretive world of tax fraud and evasion. Before the scandal exposed the global extent of offshore tax havens, Panama was the last major financial center refusing all exchange of banking information.

But since then, Panama has adopted new legislation and signed up to the international fight against tax fraud, with all the transparency required. Law firms in Panama have been required to undertake due diligence -- to know their clients and the final beneficiaries of the companies they create -- since 2015.

Mossack said US jurisdictions have "zero transparency" and that is why, after the scandal, there has been an increase in clients creating tax shelters in the US who previously would have gone to Panama. According to the Panamanian economy ministry, the creation of offshore companies fell 27 percent in 2016 from the prior year.

No one has been arrested in the Panama Papers leaks scandal. In this Central American country, tax evasion is not a crime. But Mossack and Fonseca have been placed in provisional detention on money-laundering charges as part of a sprawling Brazilian corruption probe dubbed "Operation Car Wash."

Mossack´s letter, written from detention, was dated April 10. Panama´s chief prosecutor, Kenia Porcell, said his office was cooperating with European countries investigating tax fraud revealed in the Panama Papers.

The Panama Papers linked some of the world´s most powerful leaders, including Russian President Vladimir Putin, former British prime minister David Cameron and others to unreported offshore companies.

Mossack said more than 98 percent of his firm´s clients were not Panamanian nationals and that 85 percent of the companies noted in the Panama Papers were set up to comply with other jurisdictions. According to him, "less than one percent of all the companies incorporated" by Mossack Fonseca could have "a possible wrongful use."

If some of the companies set up by Mossack Fonseca were used by their owners to try to cheat on their taxes "we would not have been aware of that, since no client in his right mind would tell people he has never met that he would use the company for an illegal purpose," he said.


Kennrainty (not verified) - Mon, 05/22/2017 - 08:54

Canada Pharmacy 24 H [url=http://priligy.ccrpdc.com/dapoxetine-priligy-forum.php]Dapoxetine Priligy Forum[/url] Dosage For 45 Pounds Amoxicillin Discount For Celebrex [url=http://cial1.xyz/canadian-cheap-cialis.php]Canadian Cheap Cialis[/url] Diabetic And Taking Amoxicillin Can Cats Have Human Amoxicillin [url=http://viag1.xyz/cheap-viagra-25mg.php]Cheap Viagra 25mg[/url] free shipping isotretinoin for sale legally Plavix Online Order [url=http://zol1.xyz/cheap-generic-zoloft.php]Cheap Generic Zoloft[/url] Buying Prednisolone Uk Discount Elocon C.O.D. Can I Purchase With Free Shipping [url=http://viag1.xyz/cheap-viagra-tablets.php]Cheap Viagra Tablets[/url] Discount Celebrex Cialis Interaccion Con Otros Medicamentos [url=http://kama1.xyz/ordering-kamagra-online.php]Ordering Kamagra Online[/url] Internet Based Drug Stores Amoxicillin Dose For A Dog [url=http://kama1.xyz/kamagra-online-fast.php]Kamagra Online Fast[/url] Buy Doxycycline 30 Pills Fake Generic Viagra [url=http://cial1.xyz/purchase-generic-cialis.php]Purchase Generic Cialis[/url] Buy Wellbutrin Xr Without Rx Clomid Price Walmart [url=http://cial1.xyz]Buy Cialis[/url] Buy Zithromax Over Counter Buy Real Cialis Uk [url=http://kama1.xyz/buy-kamagra-online-cheap.php]Buy Kamagra Online Cheap[/url] Propecia Lower Amount Amoxicillin Not Strong Enough [url=http://inderal.ccrpdc.com/generic-inderal-without-prescription.php]Generic Inderal Without Prescription[/url] Buying Progesterone No Prescription Gimalxina [url=http://zol1.xyz/zoloft-order.php]Zoloft Order[/url] Comprare Viagra Sicuro On Line Spelling Amoxicillin [url=http://kama1.xyz/cost-of-kamagra.php]Cost Of Kamagra[/url] Viagra Hard Tumblr Zaditor [url=http://cytotec.ccrpdc.com/order-cytotec-pills.php]Order Cytotec Pills[/url] New Primatene Mist Inhaler Cialis Soft Moins Cher [url=http://cial1.xyz/buy-online-cialis.php]Buy Online Cialis[/url] Best Prices For Viagra Cialis Buy Kamagra Pills Online [url=http://cial1.xyz/cialis-free-trial.php]Cialis Free Trial[/url] Kamagra Dose Clobetasol Lichen Planus [url=http://viag1.xyz/by-cheap-viagra.php]By Cheap Viagra[/url] Cialis E Priapismo Cialis Shop [url=http://zol1.xyz/buy-zoloft-online-usa.php]Buy Zoloft Online Usa[/url] Amoxicillin Trihydrate 500mg Levitra Samples [url=http://viag1.xyz/buying-viagra-online.php]Buying Viagra Online[/url] buy roaccutane online Amoxicillin And Yellow Tablets [url=http://prozac.ccrpdc.com/generic-prozac-cheapest.php]Generic Prozac Cheapest[/url] Achat Xenical Ligne

Chasideday (not verified) - Fri, 05/26/2017 - 05:34

Viagra Zum Kaufen Ohne Rezept [url=http://buykama.xyz/cheap-generic-kamagra.php]Cheap Generic Kamagra[/url] Gpc Health Canada Pharmacy Levitra Bologna [url=http://buycheapind.xyz/propranolol-overseas-pharmacy.php]Propranolol Overseas Pharmacy[/url] Is There Penicillin In Amoxicillin Cialis Generico Mejor Precio [url=http://al7.xyz/xenical-usa.php]Xenical Usa[/url] Kamagra Store Acheter Cialis Original En Ligne [url=http://deltas.xyz/generic-deltasone-40mg.php]Generic Deltasone 40mg[/url] What Does Keflex Used To Treat Amoxicillin Std Dosage [url=http://priligy.ccrpdc.com/priligy-tablet.php]Priligy Tablet[/url] Generic Cialis Without A Prescription Boots Chemist Viagra Retail Price [url=http://probuy1.xyz/generic-prozac-pricing.php]Generic Prozac Pricing[/url] Zithromax And Running Generique Cialis Pharmacie [url=http://buyac.xyz/isotane.php]Isotane[/url] Overnight Cialis In Us Synthroid For Purchase [url=http://5553pill.xyz/doxycycline-generic.php]Doxycycline Generic[/url] European Pharmacy Viagra Wirkung Wann [url=http://doxyc.xyz/cheap-vibramycin-on-line.php]Cheap Vibramycin On Line[/url] Amoxicillin While Pregnant Dove Comprare Cialis Online Sicuro [url=http://zol1.xyz/sertraline-no-prescription.php]Sertraline No Prescription[/url] Buy Nexium From Canada Cialis Gro?Britannien [url=http://buyal.xyz/get-cheap-xenical-online.php]Get Cheap Xenical Online[/url] Amoxicillin Synthesis Port Vila [url=http://cial1.xyz/generic-cialis-pricing.php]Generic Cialis Pricing[/url] Acquisto Levitra Orosolubile Achat En Ligne Misoprostol [url=http://prop1.xyz/cheapest-prozac.php]Cheapest Prozac[/url] Thyroxine For Sale Compra Viagra Madrid [url=http://buynolva.xyz/nolvadex-comprar.php]Nolvadex Comprar[/url] Acheter Viagra Generique Ligne Cialis A Que Edad [url=http://buyal.xyz/cheap-xenical-generic.php]Cheap Xenical Generic[/url] Cialis 20 Mg De Taking Amoxil With Cipro [url=http://buycheapind.xyz/inderal-cheap.php]Inderal Cheap[/url] Amoxil Forte Where To Order Isotretinoin [url=http://furos.xyz/acheter-lasix.php]Acheter Lasix[/url] Cheap Viagra From Usa How Can You Last Longer300 Mg Fluconazole Online India [url=http://sildenaf.xyz/viagra-dosage.php]Viagra Dosage[/url] Buy Real Xenical Viagra In 3 Days [url=http://buynolva.xyz/online-nolvadex.php]Online Nolvadex[/url] Amoxicillin Suspension 150ml Potenzmittel Cialis Gunstig [url=http://viag1.xyz/generic-viagra.php]Generic Viagra[/url] Cialis Online Rezeptfrei Bestellen Best Buy Direct Provera Prodafem [url=http://antabusa.xyz/shop-antabuse-online.php]Shop Antabuse Online[/url] Levitra Euroclinix And this is really about the most effective deployment of capital and resource. [url=http://easymoneyfast365.com]online loans[/url] Plan for the future by making a realistic budget to help avoid the need to borrow for emergencies and unforeseen expenses.If a lenders collection department is unable to obtain the funds in many cases they will either attempt to collect the debt themselves or sell the debt to a collection agency.paydayloan.Online Female Viagra [url=http://buyac.xyz/accutane.php]Accutane[/url] Cialis Pastillas Mezclar Viagra Y Alcohol [url=http://strat1.xyz/strattera-drug.php]Strattera Drug[/url] Keflex Pipe Expansion Loops Ficha Tecnica De Propecia [url=http://cial5mg.xyz/purchase-cialis.php]Purchase Cialis[/url] Over The Counter Ed Pills Walgreens Cephalexin Overnight [url=http://furos.xyz/by-cheap-lasix.php]By Cheap Lasix[/url] Can I Take Amoxicillin With Citalopram Viagra Generic [url=http://buyal.xyz/xenical-buy-online.php]Xenical Buy Online[/url] Cephalexin Penicillin Together 126 Cephalexin [url=http://las1.xyz/compra-lasix-online.php]Compra Lasix Online[/url] buy accutane paypal Cialis Propecia O Viagra [url=http://prope1.xyz/buy-propecia-online-safe.php]Buy Propecia Online Safe[/url] Levitra Orosolubile Prezzo In Farmacia On Acheter Du Cialis Sans Ordonnance [url=http://propeus.xyz/propecia-sale.php]Propecia Sale[/url] Cialis Oder Generika Mexican Pharmacies Amoxicillin Overnight Shipping [url=http://buycheapdapoxonline.xyz/where-can-i-order-priligy-online.php]Where Can I Order Priligy Online[/url] Provera For Sale Mastercard Accepted Low Price Heathnet Viagra [url=http://clom1.xyz/generic-clomid-100mg.php]Generic Clomid 100mg[/url] Priligy Istruzioni Buying Viagra Online Forum [url=http://cytobuy.xyz/misoprostol-cytotec.php]Misoprostol Cytotec[/url] Amoxicillin Allergies Comprar Cialis En Mano [url=http://cial1.xyz/mail-order-cialis.php]Mail Order Cialis[/url] Aquetic Macrobid 100mg Tablets Mastercard Alaska [url=http://buynolva.xyz/nolvadex.php]Nolvadex[/url] Prozac No Prescription Needed Kamagra A Donner [url=http://antab1.xyz/get-antabuse-online.php]Get Antabuse Online[/url] Canada Rx Online

Add new comment

1 + 3 =