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| pic, foundtheworld |
During
the week, the focus was on Panama which is a known “tax haven”.
It was revealed via several news agencies that Mossack Fonseca, a Panamanian law firm helped individuals across the world invade tax. The financial records was leaked anonymously to Süddeutsche Zeitung and International
Consortium of Investigative Journalists (ICIJ). The 11.5
million files revealed the identities of global elites and government officials
and their offshore shell companies handled by Mossack Fonseca.
Some
of the people revealed in the documents has come as a shock to people. The first
casualty was the Sigmundur David Gunnlaugsso,
FIFA president, Gianni
Infantino and UK Prime Minister David Cameron have also been linked to
the scandal. Some Naija people were also named including David Mark, Theopholius
Danjuma and Bukola Saraki, Nigeria’s Senate president.
These findings have lots of
implications for the various individuals mentioned. Infantino, has major work
to do considering that FIFA’s reputation is presently at stake. This revelation
will bring major setback for both FIFA and UEFA.
For Cameron, he has a lot on his
plate with the division in his Conservative party and the EU referendum. The Panama
paper leaks definitely is not good for him especially with him denying and later
admitting he benefitted from the offshore accounts. Already there has been call
for his resignation by Labour MP John Mann saying, Cameron had "covered up and misled" .
This is definitely not the best times for Sariki who presently
has on-going court cases for false declaration of assets.
Investigation has also proceeded to investigate the role of
Swiss banks in the illicit financial transactions. Panama is also investigating
while President Obama has called for international tax reforms.
The world is yet to see the major implications of the leaked Panama
documents. What are your views?
Putting your money in tax havens is not illegal however it's one of those things that concern morality. It's a major problem because those who have been linked to the scandal are people who are held in high esteem and should set good examples.
ReplyDeleteExpose them all is what i say!
ReplyDeleteAm sure alot of political leaders will be involved in this scandal,expose them now or they will water it down like so many other issues that never saw light of day.
ReplyDeleteWether they water it down or not like other issues judgement day is coming.
ReplyDeleteTaxation is a major revenue tool for every state. Evading tax is an immoral act being that our tax is USED for a common goal which is nation building.
ReplyDeleteI wonder why people are surprised about this news? Is it because it was not tagged 'SWISS ACCT' because that's the one we are familiar with.
ReplyDeleteMy people, am not surprised. All these world leaders and entrepreneurs have been part of this way of life from time immemorial. Why the pretence now? I feel that this noise is targeted to a particular person, in order to tarnish his/her political ambition and something is telling me that the target is the 'Ice Land Man' (Abeg no quote me o)
Well using tax havens is not illegal and nobody can go to jail for it. The problem is that it makes one look greedy and uncommitted to the common good; for business men this may even be viewed as a smart decision. However it is a very bad look for politicians. I think international tax reforms are essential to change some of these issues and also honest and open declaration. Cameron lied about it, if he had been honest, he would have still been taken to the cleaners regardless. I find it interesting though, that the UL is spending so much resources trying to cut down on illegal and undeserving "collectors" of social welfare/benefits which they say runs into millions of pounds. Meanwhile it has shown no plans to target the rich and elite who evade tax and these evaded taxes actually run into billions of pounds! But we know the answer. The state is run by these so called elites and wealthy families who evade taxes. Their campaigns are also funded by these types, so instead of going after them, they pursue the poorest of the society. Such misplaced priorities. Anyway, I digress. International tax reforms are the way to go otherwise we shall continue to see this. They should check out Donald Trump as well, I am sure he must use tax havens too. But hey, he's a business man.
ReplyDeleteThis revelation will not change anything my dear. The rich will keep finding ways to protect their wealth. Panama is only a snippet of the injustice in the world. Think back to the GFC. We knew who caused it. We know why. We know their names. But for some reason nothing happened to them. No arrest. Nothing! Not just that. They are still running our world till today. This is our reality. This is the way the cookies crumble. Get use to it or fly to MARS!!!
ReplyDeleteI think the rich should be made to pay their tax as every other person does. NOTOTAXHEAVENS.
ReplyDelete