registerme
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Post by registerme on Apr 4, 2016 13:16:45 GMT
www.bbc.co.uk/news/world-35918844One part of me is appalled that such leaks / hacks / breaches of confidentiality occur. The other loves rubber-necking at the hypocrisy and criminality of the high and mighty. The last bit, hopefully if sceptically, wonders whether there will be a windfall of recovered assets that can go to pay for needed public services / debt pay down, particularly in developing world countries. The odd dictator loosing power might not be such a bad thing either, but, as we've seen recently, "be careful what you wish for" etc.
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Post by jevans4949 on Apr 5, 2016 20:59:52 GMT
It's not going to affect politicians in countries where corruption is the norm, only those in western democracies.
And if the governments of these democracies insist on taxation policies to "soak the rich", and all countries set corporate tax policies to bribe international companies to set up in their jurisdictions, then it's hardly surprising that those who can will seek to avoid the "legalised looting".
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Post by oldnick on Apr 5, 2016 21:10:39 GMT
UK governments, socialist and capitalist, have tolerated these 'offshoring' tax rules for many years. No good being shocked now that some have taken full advantage of those rules to evade tax, or the police, or both.
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ben
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Post by ben on Apr 6, 2016 10:19:24 GMT
I always like the excuse that they come out with was that they were not breaking the law, technically true but done in such a way that it was obvious they were breaking the spirit and intention of the law.
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Post by Deleted on Apr 6, 2016 10:48:02 GMT
Still good to see the old pirates of HSBC are still claiming to be whiter than white, I mean they hardly ever do anything wrong
1) Mexican money laundering
2) abusive mortgages practice
3) "we may move to Hong Kong because of the costs of being honest in the UK"
4) Foreign exchange rigging fines £500m
5) Swiss investigatory fees (like fines just called something else)
6) "The swiss leaks"
7) "The panama leaks" in the top 5 companies mentioned
etc
Attorney General USA "stunning failures of oversight – and worse ... The record of dysfunction that prevailed at HSBC for many years was astonishing"
One to make us all laugh
"In 2015, HSBC was recognized as the most trusted foreign bank in India by The Brand Trust Report 2015"
BTW the route to reduced corruption and crime is increased transparency. I think this is great that these facts come out. I would happily publish my annual financial status and see no reason why others should not.
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adrianc
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Post by adrianc on Apr 6, 2016 12:07:05 GMT
I always like the excuse that they come out with was that they were not breaking the law, technically true but done in such a way that it was obvious they were breaking the spirit and intention of the law. If you can break "the spirit and intent" of the law, without actually breaking it, then the law is badly written. Quite simply - unless something is illegal, it's legal. The problem with this kind of offshore investing isn't the offshore investing, it's in WHY it's being done - is it being done to add sufficient deniability to an investment that tax can be evaded? Is it done to avoid sanctions? The UK government can't force the BVI or Panama or Lichtenstein or any other country to change their tax laws. They CAN place reporting requirements on money that's brought into the country, and can tax that - but if the resident doesn't declare it, that can only be laid at the feet of one person - that resident. People complain about FATCA and the US government sticky-beaking into other countries, then we demand that the UK government should do more to stop things happening elsewhere. It's inconsistent...
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Post by oldnick on Apr 6, 2016 12:09:19 GMT
"BTW the route to reduced corruption and crime is increased transparency. I think this is great that these facts come out. I would happily publish my annual financial status and see no reason why others should not."
I must have a word with my Panamanian accountant to see if he can come up with something on those lines - just need to do a little rearranging of names to tidy things up..
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oldgrumpy
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Post by oldgrumpy on Apr 6, 2016 12:42:03 GMT
"If you can break "the spirit and intent" of the law, without actually breaking it, then the law is badly written."
Exactly. Politicians of all parties should stop blustering and pontificating and do the job they are paid to do. Enact laws that don't include loopholes. 
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duck
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Post by duck on Apr 6, 2016 14:49:40 GMT
OK so I'm a senile delinquent who has spent a lifetime reading Private Eye and generally extracting the urine ..... so you know where I'm coming from.
I've known about the Cameron connection for years, being an engineer when he stated pontificating I started researching. Gideon George Osborne's family business is no better.
Ian Cameron named his company Blairmore after their ancestral home when he sold it ...... anybody else note the irony Blairmore? I'd better not start on that subject! Yes they are all at it, have been for many, many centuries.
What hasn't been well publicised is that Blairmore moved to Ireland (preferential tax rates) when Cameron junior climbed the greasy pole - obviously just a coincidence.
So when in the latest 'I have done nothing wrong' statement contained 'no offshore trusts or funds' & 'There are no offshore trusts or funds from which the prime minister, Mrs Cameron or their children will benefit in future' was delivered I had to admire the careful choice of words ....... but then I thought DC lives in England, Ireland is certainly 'off shore' or doesn't that count?
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adrianc
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Post by adrianc on Apr 6, 2016 16:17:40 GMT
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duck
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Post by duck on Apr 6, 2016 16:29:30 GMT
Exactly, which is why I have broken my salt shovel when DC has been saying he wants to close down tax havens. Doesn't he know how his lifestyle has been funded?
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adrianc
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Post by adrianc on Apr 6, 2016 16:33:25 GMT
Is your life somehow inseparably linked to whatever your father did at work?
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agent69
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Post by agent69 on Apr 6, 2016 17:47:00 GMT
There's an awful lot of documents out there and it's not surprising that they target the billionaire offenders first.
Wonder how long it will be before they get down to forum members, who may have a few quid pugged away for a rainy day.
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SteveT
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Post by SteveT on Apr 6, 2016 17:53:01 GMT
Doesn't Panama grow a lot of bananas .... ?  |
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oldgrumpy
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Post by oldgrumpy on Apr 6, 2016 18:03:52 GMT
No!! And (oddly) it has nothing at all to do with Panama Disease, which threatens my daily munch. |
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