Panama papers

[glen]

"Often, Mossack Fonseca appeared not to realize who its customers were. A 2015 internal audit found that the law firm knew the identities of the real owners of just 204 of 14,086 companies it had incorporated in Seychelles, a tax haven in the Indian Ocean."

 

Some people are looking for a rock to crawl under.

WTG Iceland.

[Old Ironmaker]

What a surprise, not really.

[irishfield]

We're all just pissed off because we didn't have enough to hide, or too dumb to realize this was an option !

[glen]

Putting money into an account where the identities of the real owners is hard to prove.

[cheaptackle]

What Wayne said x a bunch!

 

Michael

[LeXXington]

Other than politicians that bend to the will of the people.. Its just business as usual.

 

Rich people get richer... average people pay more tax.

[Big Cliff]

I wonder what Name Wynne used?

[ketchenany]

I wonder what Name Wynne used?

Kathlynne Unclewill Taxyou

[KLINKER]

With the Washington madam info coming out supposedly trashing a candidate and now this, a couple more scandals and they may have to start the US primaries over again.

[scuro2]

The CRA is like a dog on a bone with info like this. It's not just a bank account # but rather 90 million documents were dumped. I have no doubt there are a few voluntary confessions happening with the CRA right now. The CRA will also love this on the deterrent angle, they will go that extra mile. Cheaters will always cheat but it aint no long term money making strategy!

 

Edited April 7, 2016 by scuro2

[glen]

I would like to see all the names please.

[Sterling]

From what I read there is a distinct absence of American and Canadian names in the documents. This company serviced mostly european, asian and middle eastern clients.

[scuro2]

http://www.cbc.ca/news/business/canada-revenue-agency-panama-papers-tax-1.3521859

 

Oh yeah the CRA is interested in the 350 people.

[tb4me]

If no laws were broken here I dont have any issue what so ever here..Now if there is major tax evasion going on I say nail them to the wall hard..Set an example of them all.

[manitoubass2]

Lets hope wynne is on the list

[scuro2]

If no laws were broken here I dont have any issue what so ever here..Now if there is major tax evasion going on I say nail them to the wall hard..Set an example of them all.

If there are any accountants out there...I'd like to hear why someone would legitimately go through this particular firm and move significant money there unless your a nutter!

[tb4me]

If there are any accountants out there...I'd like to hear why someone would legitimately go through this particular firm and move significant money there unless your a nutter!

heres your answer...lol

 

http://www.macleans.ca/news/world/why-do-the-rich-hide-money-offshore-anyway/

[Dutch01]

heres your answer...lol

 

http://www.macleans.ca/news/world/why-do-the-rich-hide-money-offshore-anyway/

Great read, thanks.

[glen]

"Say you own a mining company, for example, and have concerns about one day being sued for potential environmental problems. Keeping money stashed away in a trust can potentially stop future creditors from getting everything. But offshore trusts offer an extra layer of protection."

 

So hide your money so you don't have to pay what your sued for.

Go to jail.

[irishfield]

Just an extra layer Glen. You can do the same thing with funds and not even leave Canada, just put them into a Life Insurance company's investment fund with a named beneficiary. Nobody can touch them even if you decide to claim bankruptcy. It's nothing new and a common theme for anyone that takes that big life gamble and takes all their hard earned savings and starts a new business.

[manitoubass2]

Meh, anyone dealing like this has the money to evade.

 

Although id assume some reputations might be hurt(political figures)

 

I hope this is the first leak in a long line

Edited April 8, 2016 by manitoubass2

[irishfield]

Remember there is nothing illegal about making 10 million dollars in Canada, paying your taxes on it and then taking what is left over and putting it in a bank account in Antigua, Isle of Man, etc, or apparently Panama and letting it sit there. If they're not paying you interest there is no fowl.

[manitoubass2]

Remember there is nothing illegal about making 10 million dollars in Canada, paying your taxes on it and then taking what is left over and putting it in a bank account in Antigua, Isle of Man, etc, or apparently Panama and letting it sit there. If they're not paying you interest there is no fowl.

Yep. Thats exactly the "plan".

 

Mr iceland confirms it lol

Edited April 8, 2016 by manitoubass2

[manitoubass2]

Oh and jackie chan is on that list apperently.

 

I have no idea why but that makes me laugh

[manitoubass2]

Not the best news source but a decent breakdown for now

 

https://youtu.be/lejKhRPBxbA

 

Search bernie sanders talk in 2011 i believe

Edited April 8, 2016 by manitoubass2