Search results
Results from the WOW.Com Content Network
A 2003 examination of tax havens by Jeffrey Robinson quotes a US Customs official as saying: [Panama] is filled with dishonest lawyers, dishonest bankers, dishonest company formation agents and dishonest companies registered there by those dishonest lawyers so that they can deposit dirty money into their dishonest banks. The Free Trade Zone is ...
Because it is cited as the first coherent academic list of tax havens, the 41 jurisdictions from Appendix 2 in Hines-Rice (1994) are listed below, in the three sub-categories Hines-Rice used. The 7 major tax havens identified by Hines-Rice, who represent over 89% of tax haven GDP, are marked with a dagger (†). [8]
Panama, Vanuatu and Lebanon may find themselves on a list of uncooperative tax havens that the Organisation for Economic Co-operation and Development (OECD) re-activated in July 2016 at the request of G20 nations, warned Le Monde, a French newspaper that participated in the investigation.
1983: The first officially recognized US corporate tax inversion as McDermott International moves from Texas to a tax haven, Panama. [55] [53] 1994: James R. Hines Jr. publishes the important Hines–Rice paper, producing the first academic list of 41 tax havens, including 7 major tax havens.
should help promote the country's economic growth. In May 2009, Ricardo Martinelli was elected president, and promised to promote free trade, establish a metro system at an approximate cost of $1.0 billion, [10] reform the health care system, and complete the expansion plan for the Panama Canal.
Corporate America. Until the 2017 tax bill, the United States had the highest corporate tax rate in the developed world — 35%. Of course, a lot of corporations were finding ways not to pay it.
They said that the company referred to in the Panama Papers was inactive and that Messi had declared all income from image rights before and after proceedings with the Argentine Tax Agency. [ 16 ] [ 17 ] Messi alongside his father Jorge stood trial on three counts of tax evasion in May 2016. [ 18 ]
An ICIJ report focused on the Panamanian law firm of Alemán, Cordero, Galindo & Lee, or Alcogal, saying it was the "law firm of the Latin American elite", [41] having created at least 14,000 shell companies and trusts in tax havens. Alcogal was thus mentioned more than any other offshore provider in the leaked documents.