Skip to content

“Panama Paper” Open Question ?

April 8, 2016

Panama Papers could be icing on the cake for next financial and housing market disaster, as the cat is out of the bag, so more bad news on the issue is definitely coming, unless flow of information is intentionally ceased.

Estimated size of global laundering transaction is 2 pct of the Global GDP or nearly USD 1.5 Trillion.

Mind-Boggling Questions !

-Why should the we believe that Panama Paper disclosure is amazing facts or new revelation?

-Why is it necessary to set up an unannounced secret offshore company when the business is legitimate ?

-Why offshore transactions are considered secret deals when it is a legitimate business ?

-Offshore Financial Service (Another Country, not the one in which you Live) is a legal business and is considered a safe way to manage funds, as it legitimately saves its customers from being over taxed, then why do investors have to transfer money from backdoor and act secretly and hide their names and identity ?

-If the business is not unlawful then, why Law Firms are required to hide the identity and the name of final owner of the company is not disclosed ?

-If tax Evasion is permissible and transfer of money is not restricted, as sending money is considered legalized and moral business activity, then why transfer of money takes place secretly ?

-Do these legal firms and offshore Financial Centers obtain clearance/declaration from Tax authorities where they are resident about funds, assets, wealth or offshore property ?

-Is reporting of all such transaction to Tax Authority an obligation, as ignorance of law cannot be considered an excuse and how frequently such transaction are verified?

-Why such financial and legal operations are not managed with highest level of transparency ?

-Why Money Laundering Regulations are not properly applied to offshore Financial Centers ?

-How transactions worth in Billions of US Dollars, Euro, Pound and other Currencies being monitored to know the genuineness of such deals?

-How such large amounts are transferred without any check, though Financial action Task Force (FATF) regulates money laundering?


Will Panama Papers ever compel Governments and Parliaments to become more Transparent on Global Tax issues/Reforms ?

Or the World Leaders/Politicians/Legislators/Financial Authorities/Central Agencies/Regulators (CB’s & SEC’s)/Rating Agencies/Auditors (internal & External/Board of Governors/MOF are of the view that 99.5 pct of the remaining Global Population is stupid and naive and can always be-fooled and lured by the executors to protect the criminals, offenders, wrongdoers and sinners.

(Disclaimer applies in my post, which means that the perspective is my personal view. I have made every effort to ensure accuracy of information provided. However, accuracy cannot be guaranteed. This article is strictly for information and not intended for Trade or Business Transaction)

Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: