Thats the same Guardian who uses the Cayman Islands for most of their taxes I assume. The problem is massive, and not illegal.
Panama Papers
- Thread starter Danthus
- Start date
Thats the same Guardian who uses the Cayman Islands for most of their taxes I assume. The problem is massive, and not illegal.
Caporegime
- Joined
- 30 Jul 2013
- Posts
- 30,583
Soldato
- Joined
- 23 Oct 2002
- Posts
- 13,599
How about they laundered the 'Brinks Mat' proceeds knowingly... docs state they knew.
or
They helped firms on US blacklists to evade sanctions. The US DoJ will be following these up.
or
new FIFA chief signs off broadcasting rights to a known fraudster who immediately sells them for triple.
To mention a few.
On the last I see the cops are already taking action
http://www.bbc.co.uk/sport/football/35981302
The Icelandic guy has already resigned.
It was 2600GB and still being looked at. This is bigger than Wikileaks.
It's old news and has had enough coverage on the live news. The web site web site has plenty about it. Got to keep all those journos occupied with something.
If it's all legal and above board, why did he use a crooked law firm in Panama? I can recommend him a very good solicitor in the north of England for conveyances - I bet they would be a lot cheaper than Mossek Fonseca too
Last edited:
In the grand scheme of things nothing will change. The poor will be poor, the masses won't really care as long as they have immigration and other distractions to keep them occupied and the rich [as a 'class'] will do whatever they can do keep as much of their money as they can.
It is however another opportunity for some to have a moan about corrupt politicians and how are leaders are really in it for themselves.
It is however another opportunity for some to have a moan about corrupt politicians and how are leaders are really in it for themselves.
No, one is claiming money YOU didn't earn, the other is trying to legally keep what you earnt. There is a major difference, one had to work for their money, the other had to obligate someone to earn that money before they dishonestly appropriated that money.
Last edited:
Absolutely, it seems if you are big enough you can negotiate how much you pay.
Entitled. Who says that this money was even earned? Much of the early reporting from the newspapers privy to this information seem to be suggesting that activities are corrupt or at least questionable.
An eerily silent on the BBC they are probably running the next "Putin is going to Nuke us" story now that his friend of a friend has had his shell companies rattled while disregarding that a large number were British. Like I said, if this behavior is happening in these over seas territories the government should bulldoze in and take control
I wish FIFA would just disband already, its scandal after scandal at this point...
Actually, if the big issue for the FIFA investigation last year was that they couldnt find conclusive payments for services, maybe this company has a papertrail that will end the organisation once and for all.
Actually, if the big issue for the FIFA investigation last year was that they couldnt find conclusive payments for services, maybe this company has a papertrail that will end the organisation once and for all.
Last edited:
I know, i completely agree, that guy they put in charge has such a punchable face also
I watched the speech he gave after he was nominated and it was all smug, brown nose hand shaking tosh, i was embarrassed watching him\it.It needs to be shutdown, how i am not sure.
Id like to know as well.
Well if it is money obtained from corrupt or illegal means then that is something completely different than talking about tax avoidance which was where I first quoted your post.
the laws that allow for tax avoidance should be changed, British territories should be compelled to change their behaviour or be cut off. Simple really...
From my understanding you have company A corporate and registered in the UK.
Company A opens a subsidiary company B in an offshore 0% or low corporation tax country.
Have you noticed most offshore companies are holdings or none productive entities?
They just a get a local cleaner or whatever for signatures and documents open a small office and have a phone number.
Company A makes a profit of 1 million but company B makes a loss of 500k, A has to send 500k (so to say)to B to keep it going. Company A pays tax on 500K and not 1million.
Company B receives 500k and squirrels it away into the offshore account, deducting rent and salary costs but they are a tiny fraction of submitted loss to the UK tax man.
As unbeknown to the taxman company B cost sod all to run and is just a front.
Anyone can do it but you have to have a fair chunk of change to make it worth your while.
Us peasants would never make enough in a lifetime for it to be worth it and the rich know it.
Or taken over and have the current inept system overseen. However, this is probably the same problem of having ultra rich people in power. Its coming out about George Osbourne now i believe and the dodging of tax (all)
Someone made a very good point on lbc radio:
Pretty much sums it all up, we can't state for definite that it is illegal as there haven't been many legal proceedings brought forward by the HMRC against the big ones (as they always settle outside of court or the HMRC don't pursue for the obvious reasons) to set the precedent.
Pretty much sums it all up, we can't state for definite that it is illegal as there haven't been many legal proceedings brought forward by the HMRC against the big ones (as they always settle outside of court or the HMRC don't pursue for the obvious reasons) to set the precedent.
British Crown Dependencies are already signed up to the OECD's Convention on Mutual Administrative Assistance in Tax Matters.
Here's a list, you will see that Britain has covered Crown Dependencies by extension:
http://www.oecd.org/ctp/exchange-of-tax-information/Status_of_convention.pdf
Here's the convention:
http://www.oecd.org/ctp/exchange-of-tax-information/ENG-Amended-Convention.pdf
Here are some quotes (I can't be bothered to fix formatting):
I saw this when Private Eye first published it. Looking at central London, it's equally terrifying and disgusting, but does explain the huge surge in property prices throughout the capital. Looking around my area, a significant number of properties were bought through offshore tax havens in the period of 2008-2011.
The release of the Panama Papers simply confirms in writing how savvy financiers have been making money given low interest rates since the 2008 markets crash.