Panama Papers

[Spurs9]

One of the biggest doc leaks ever happend today, no major news outlets reporting this yet
http://www.theguardian.com/news/2016/apr/03/what-you-need-to-know-about-the-panama-papers
Nice too suprising but going to expose alot of people.

[TDMVPDPOY]

does the irs or whatever tax department have the resources and money to chase these clowns?

down here is talkin about it, but most know the department doesnt chase after big men, they always go after the little guy knowing the individual taxpayer cant afford a really good lawyer

[Spurs9]

This is going to be really big, the US data is yet to be released. Some presidential candidates could be in the docs, its already reported over 3000 US companies could be involved. It mentioned 800+ in australia on the leak and the intention to go after them.

[TDMVPDPOY]

even if you hide ur savings after tax in offschore accounts, they still want the interest earn on that savings, and whatever profit you made using that savings for investments...

at the end of the day, it doesnt matter where u account is located, if ur a resident for tax purposes that financial purposes, that country should chase after that profit money

[Drachen]

One of the biggest doc leaks ever happend today, no major news outlets reporting this yet
http://www.theguardian.com/news/2016/apr/03/what-you-need-to-know-about-the-panama-papers
Nice too suprising but going to expose alot of people.

Isn't the guardian pretty big?

[DAF86]

Recently elected Argie president is in this. And the fucking idiots here voted him to "put an end to corruption". Not even 4 months and their bubble is already fucked. :lmao

[pgardn]

Recently elected Argie president is in this. And the fucking idiots here voted him to "put an end to corruption". Not even 4 months and their bubble is already fucked. :lmao

Looks like the same thing in Iceland.

The big US papers are holding off on this so far.

[Slomo]

It's not a leak per se, but German investigators bribing employees to become whistle blowers. They did the same thing a few years back with Liechtenstein, forcing both Switzerland and Liechtenstein to change their banking legislations. I have to admit that Merkel does put her money where her mouth is - she said she was going after tax evaders and she is (apparently with gusto).

Let's be honest what the Germans are doing is neither difficult nor innovative. You just need to mean it as opposed to be in favour of it only in principles. A nice fuck you touch is how the Germans buy the info, follow it up and once they are done share the info with anybody for free.

Of course this will not catch the really big ones, because having this kind of companies, accounts and other assorted arrangements is technically not illegal as long as you have squared off their status with your local tax authorities. So only the semi rich and idiots are going to be caught out, the smart (and super wealthy) have probably made sure that they are right on the edge of the law and will get away with it.

[pgardn]

It's not a leak per se, but German investigators bribing employees to become whistle blowers. They did the same thing a few years back with Liechtenstein, forcing both Switzerland and Liechtenstein to change their banking legislations. I have to admit that Merkel does put her money where her mouth is - she said she was going after tax evaders and she is (apparently with gusto).

Let's be honest what the Germans are doing is neither difficult nor innovative. You just need to mean it as opposed to be in favour of it only in principles. A nice fuck you touch is how the Germans buy the info, follow it up and once they are done share the info with anybody for free.

Of course this will not catch the really big ones, because having this kind of companies, accounts and other assorted arrangements is technically not illegal as long as you have squared off their status with your local tax authorities. So only the semi rich and idiots are going to be caught out, the smart (and super wealthy) have probably made sure that they are right on the edge of the law and will get away with it.

This info was indeed given to a German newspaper.

Link on your supposition? Somebody else must have suggested this, I would certainly like to read about it.

[Drachen]

Looks like the same thing in Iceland.

The big US papers are holding off on this so far.

USA Today was the second hit on a google search about this last night

[pgardn]

USA Today was the second hit on a google search about this last night

I did not mean on that particular case. I meant naming a wide swath of people and actually explaining the process of hiding the money. like The Guardian and BBC. And now it seems like it's hitting much closer to the top of other governments, maybe not so sexy in the US.

[Slomo]

This info was indeed given to a German newspaper.

Link on your supposition? Somebody else must have suggested this, I would certainly like to read about it.

It was widely reported for years after the story broke in 2008. The reason for it being an on going story is that it forced both Liechtenstein and Switzerland to change their banking laws and practices to a point where anonymous wealth management is not only non existent in Switzerland anymore, but they had a deadline to clean up the existing accounts too.

The Germans are not even trying to deny any longer the involvement of their intelligence apparatus in the scandal or the fact they bought the info from a bank employee. The complete disregard for how far they pushed the envelope under their own jurisdiction to make the essentially illegally obtained evidence admissible and the sharing of the info with other countries signalled they meant business and scared the Swiss into submission.

Even Wikipedia has an article on it: https://en.wikipedia.org/wiki/2008_Liechtenstein_tax_affair

Although I remember better articles and analysis from FT and Der Spiegel at the time.

This Panama thing is Very similar, with German newspaper being very much at the center of both cases (initially the 2008 thing was also reported of being the work of investigating reporters).

Anyway the info is being shared internationally and the local news are having a field day over here (especially because Putin's name is apparently on the list being shared).

[Slomo]

The US also jumped on the bandwagon and made life for the Swiss quite miserable resulting in the IRS' ability to have an insight into the Swiss accounts of US citizens regardless of their residence.

[Drachen]

I did not mean on that particular case. I meant naming a wide swath of people and actually explaining the process of hiding the money. like The Guardian and BBC. And now it seems like it's hitting much closer to the top of other governments, maybe not so sexy in the US.

Ah, got it. Sorry, I'm just tired of people with their claims that "the mainstream media will NEVER cover something like this" while posting links to mainstream media sites. I feel like this is a story that will develop slowly gaining speed as people have time to dig through the docs. I could be wrong though.

[pgardn]

It was widely reported for years after the story broke in 2008. The reason for it being an on going story is that it forced both Liechtenstein and Switzerland to change their banking laws and practices to a point where anonymous wealth management is not only non existent in Switzerland anymore, but they had a deadline to clean up the existing accounts too.

The Germans are not even trying to deny any longer the involvement of their intelligence apparatus in the scandal or the fact they bought the info from a bank employee. The complete disregard for how far they pushed the envelope under their own jurisdiction to make the essentially illegally obtained evidence admissible and the sharing of the info with other countries signalled they meant business and scared the Swiss into submission.

Even Wikipedia has an article on it: https://en.wikipedia.org/wiki/2008_Liechtenstein_tax_affair

Although I remember better articles and analysis from FT and Der Spiegel at the time.

This Panama thing is Very similar, with German newspaper being very much at the center of both cases (initially the 2008 thing was also reported of being the work of investigating reporters).

Anyway the info is being shared internationally and the local news are having a field day over here (especially because Putin's name is apparently on the list being shared).

Thanks.

I have been dissatisfied with the efforts of the US in making it more difficult to stash cash both in making law and seeking cheaters. I know a number of people here in the US who feel like the IRS are right on top of them in asking for all foreign bank accounts but it was clear some very big fish were getting around this (these folks felt that way)

So I was interested to see how much US involvement was at play in pushing this. This hiding of money is of course not a major issue in the presidential campaign. I just wanted to get an outside view of US leadership, or lack thereof, in this type of activity. So thanks.

[pgardn]

Ah, got it. Sorry, I'm just tired of people with their claims that "the mainstream media will NEVER cover something like this" while posting links to mainstream media sites. I feel like this is a story that will develop slowly gaining speed as people have time to dig through the docs. I could be wrong though.

Oh yes I know what you are talking about. Hater etc... claiming the NYTimes is just an arm of the CIA type stuff. As far as I am concerned, good diligent press is the 4th arm of the US government for the people, or should at least attempt to be.