October 26, 2021

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#PandoraPapers: Panama, frightened by the new international investigation into offshore companies

#PandoraPapers: Panama, frightened by the new international investigation into offshore companies

The Government Panama ICIJ was offered a “dialogue to present important facts” and accurate information, given the imminent publication of a new offshore corporate scandal. (Navy, in English), called “Pandora’s LeavesAnd This would presume further damage to the country’s reputation after the so-called “falseness” of the Panama Papers, Spain’s EFE agency reported.

The investigation will be revealed on Sunday by more than 100 international media outlets, including Cuban Independent Project Inventory. “A journalistic investigation led by the International Court of Justice and shared by us with more than 600 colleagues from 150 media outlets from 117 countries, Checked over 11.9 million financial documents“, Inventory said on Twitter.

In 2016, the International Court of Justice published the so-called Panama Papers, a The leak of 11.5 million documents from the Panamanian law firm Mossack Fonseca in April 2016 revealed that personalities from around the world had hired the services of this firm., now extinct, to create offshore companies likely to evade taxes, states EFE.

Eleven Cuban state companies appeared in Panama Papers as entities Navy Created in tax havens: Amadis Compañía Naviera SA, BB Naft Trading SA, Pescatlan SA, Acepex Management SA, Seagulls and Seafoods SA, Comercail Mercadu SA, Travelnet LTD, Resimevis Limited, Mavis Group SA, Técnica Hidráulica SA y Octagon Industrial LTD.

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as Panama PapersAnd Senior Cuban officials participated in dozens of businesses in tax havens With the advice of Albert Louis Dupont Willemine, a lawyer from a Swiss aristocratic family, he was a high-ranking legal advisor and mediator in more than 20 offshore companies with business relations in Cuba.

Among the names that appeared in Cuba They were the general’s brother Luis Alberto Rodriguez Lopez Calleja, son-in-law of Raúl Castro and president of the Grupo de Administración Empresarial SA (GAESA) Armed forces. The Cuban government used Mossack Fonseca (MF) to create Public limited companies in tax havens that would have allowed them to carry out business operations outside the US embargo.

pandora leaves (Pandora’s Papers) will be revealed at 12:30 PM CST on October 3, as reported by the International Court of Justice.

Panama wants to avoid “significant harm” to the country

In a letter dated September 16 sent to the International Consortium of Investigative Journalists, which was accessible to the EFE, the government indicated that “before continuing the ‘new investigation’ into extraterritorial funding with a view to disseminating findings in a series of countries, it should” not forget Previous media coverage initiated by the International Consortium of Investigative Journalists used a false and defamatory term, the “Panama Papers,” which caused massive damage to Panama.“.

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“The Government of Panama is determined to act so that the International Federation of Legal Investigators does not repeat this falsehood or any other means of communication.”The letter came from the Chicago-based law firm Benesch, Friedlander, Coplan & Aronoff LLP (USA) and CEO Laurentino Cortizo.

The facts revealed by the 2016 scandal “did not justify the use of this defamatory headline for ICIJ articles (…) Panama and Panamanian companies represent only 0.27% of offshore companies registered worldwide. However, the Panama name has become associated with offshore companies and money laundering as a result of ICIJ’s defamatory trademark efforts.”

The The Panamanian government stressed that it seeks to establish a dialogue with the International Consortium of Investigative Journalists in order not to avoid this “investigation and publication of articles”.But to make sure you have an “opportunity to gather accurate information as part of that job”.

Among those “important” data that the government wants to provide to the consortium “Since 2015, the government of Panama has been fighting tax evasion and money laundering It is a huge priority and concrete steps have been taken to demonstrate that commitment.”

No other country – as stated in the letter – “has suspended more than 50% of its companies and institutions in a single act. This alone is clear evidence of The commitment of the Government of Panama to ensure transparency and reduce the risks of companies registering for illegal purposes or tax evasionNS “.

The letter sent to Brenda Medina and Emilia Diaz-Strock, investigative journalists with the International Consortium of Investigative Journalists, said the Panamanian government “recognizes that while there is still work to be done, concrete steps have been taken to monitor and enforce offshore financial activities”.

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“Whatever ICIJ perceived in Panama in 2016 – in terms of due diligence requirements and oversight of law firms – it is unlike Panama today. The Government of Panama hopes that ICIJ will realize that it has redoubled its efforts to establish an international tax system,” the letter added. More transparent in full cooperation with the international community, including the World Bank, the FATF and the Organization for Economic Cooperation and Development,” he said.

Panama has been working for years to improve its scaffolding regarding financial transparency, which has not stopped it from continuing to be included in discriminatory lists such as the European Union’s list of countries that are not cooperative in tax matters, according to an EFE report.