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Leak of documents reveals more than 330 politicians and entrepreneurs around the world are in tax havens | Fantastic

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Leak of documents reveals more than 330 politicians and entrepreneurs around the world are in tax havens |  Fantastic

An international consortium of investigative journalists began publishing this Sunday (3) the results of investigations into offshore accounts and companies in tax havens that levy little or no taxes and protect clients’ banking secrets.

Called the Pandora Papers, this series of reports was based on the leaked 11.9 million confidential files from 14 law firms specializing in setting up businesses in countries such as Panama, the British Virgin Islands and the Bahamas.

In documents, transactions related to more than 330 politicians and senior civil servants and 35 heads and former heads of state from over 90 countries.as well as international businessmen and celebrities. THE The investigation lasted two years and involved 615 journalists from 149 vehicles from 117 countries.

In Brazil, the consortium includes the Piauí magazine, the Poder 360 and Metrópoles websites and the Government Agency. The publications mention the Minister of Economy, Paulo Gedes, and the President of the Central Bank, Roberto Campos Neto. Under Brazilian law, it is legal to open or maintain an offshore account if the owner declares the existence of such an account to the Federal Tax Service and the Central Bank.

A Consortium study quotes Economy Minister Paulo Gedes:

In September 2014, Paulo Gedes, then a partner of Bozano Investimentos, founded the offshore company Dreadnoughts International in the British Virgin Islands. He invested US $ 9.55 million in the Crédit Suisse branch in New York, which at the time was the equivalent of R $ 23 million (currently R $ 51 million at current exchange rates).

Consortium reports remind that it is not illegal to open offshore or accounts abroad if the balance held abroad is declared to the Federal Tax Service and the Central Bank. And they report that the situation is different with civil servants.

Article 5 of the Code of Conduct of the Supreme Federal Administration, created in 2000, prohibits high-ranking officials from making financial investments in Brazil or abroad, which may be affected by government policy.

According to the consortium, in the case of Paulo Gedes, despite a potential conflict of interest, the minister remained under the direct control of an offshore company in the British Virgin Islands.

The minister told the consortium that he briefed the Public Ethics Commission on his investments in foreign accounts as soon as he took over the ministry in January 2019. The Ethics Commission, however, did not consider the case until two and a half years later, in July. 2020. He did not notice violations, did not give recommendations to the minister and decided to close the case.

In a statement by the Ministry of Economy released this Sunday (3), the press office reported that:

“All private actions of Minister Paulo Gedes prior to his assumption of the office of minister were duly reported to the Internal Revenue Service, the Public Ethics Commission and other competent authorities, including his share in the aforementioned company. The information was provided during the inauguration, at the beginning of the government, in 2019. His work has always been in accordance with applicable laws and is guided by ethics and responsibility. ”

And that “since he took over as Minister of Economics, Paulo Gedes has renounced all his activities in the private market in accordance with the conditions required by the Public Ethics Commission, in full compliance with the law.”

Central Bank President Roberto Campos Neto is referred to as the owner of Cor Assets SA, an offshore company in Panama. Campos Neto set up an offshore company in 2004 with a capital of US $ 1.09 million – R $ 3.3 million at the time, and according to the consortium, “he continued to act as a controller when he took up government office in February 2019”. And that “the decision to close was approved by the shareholders of Cor Assets on August 12, 2020, but the minutes of the meeting were recorded only two months later.”

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The consortium also reports that in parallel, from January 2007 to November 2016, the CEO supported another offshore company, ROCN. According to the consortium, the president of the Central Bank supports two more offshore companies.

This Sunday (3), the President of the Central Bank, Roberto Campos Neto, published the following note: “All of my assets have been created from the proceeds of 22 years of work in the financial market, including executive functions abroad. than 14 years ago. All of this property, domestically and internationally, is declared to the Public Ethics Commission, the Federal Revenue Service and the Central Bank, all applicable taxes are paid and all applicable legal and ethical standards are complied with on time. government officials. After my appointment to the government service, no money transfers were made to companies. Since then, I have not been involved in management and have not invested with the resources of the company. By law, all this information was also provided to the Federal Senate. ”

Despite the explanations of Paulo Gedes and Roberto Campos Neto, these revelations were reflected in the political environment. The opposition has requested an immediate investigation and explanation from the Minister of Economy and the President of the Central Bank.

In a statement, House opposition leader MP Alessandro Molon (PSB-RJ) called this a very serious scandal that directly violates Article 5 of the Supreme Federal Administration’s Code of Conduct. And he claims that the opposition will propose to call the minister and the president of the Central Bank to explain to the Chamber of Deputies and enter with a representation in the prosecutor’s office.

According to an international consortium of investigative journalists, at least “$ 11.3 trillion is held offshore,” according to a 2020 study by the Organization for Economic Cooperation and Development.

The consortium argues that due to the complexity and secrecy of the offshore system, it is impossible to know how much of this wealth is associated with tax evasion and other crimes, as well as how much of it is associated with funds that came from legitimate sources and were reported to the competent authorities. …

The consortium also states that in most countries, it is not illegal to own offshore assets or use shell companies to conduct business across national borders. International entrepreneurs say they need offshore companies to run their financial businesses. The use of offshore havens is particularly controversial among politicians, as it is often a way to hide politically unpopular or even illegal activities from the public eye.

Secret documents released by the consortium reveal the offshores of 330 politicians and high-ranking officials from 91 countries, as well as 35 heads and former heads of state, businessmen and celebrities.

King Abdullah II of Jordan has secretly bought 14 luxury homes for over $ 100 million in the US and UK, according to the consortium. He would establish at least 36 shell companies. The King of Jordan says the purchase was made with his own funds and was used offshore for privacy and security.

First Minister of the Czech Republic Andrei Babis through offshore companies bought a castle on the French Riviera for $ 22 million with a cinema and two swimming pools. He did not comment on the message.

Ukrainian President Volodymyr Zelenskiy reportedly transferred 25% of the offshore company to a friend during the 2019 presidential campaign, in which he advocated the fight against corruption. The friend is now one of the top government advisors. Zelenskiy also declined to comment.

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Politics

How Lula lost the first political round of his government

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How Lula lost the first political round of his government

Photo: Ricardo Stuckert

Serial advertising in support of the re-election of an MP Arthur Lyra (PP/AL) for the presidency of the Chamber show that Lula failed to achieve its first strategic goal after winning the election: have enough political support in the National Congress to regain executive powers.

Before the first round result, center party sources warned that Lula would try to use positions in the federal government to create a base that would allow him to influence elections to the House and get a more recovery-oriented leadership. protagonist Planalto. The victory of the Conservative parties sparked a yellow light, but their conquest on October 30 opened the door to a new window of negotiations with leaders who resisted declaring themselves in opposition.

However, without resorting to any political approach, the transition group, instead of seducing the allies, began its work by presenting the idea PEC asks for a lot of money, initiating negotiations he could not afford. The first person to notice the mistake was the senator. Renan Calleiros (MDB/AL), who classified this movement as shaving.

Looking back, the analysis is simple. Lula asked Congress for a fat check and even some of his newly won prerogatives. It gave rise to hopes among deputies and senators for places in the federal administration and … disappeared. His absence for two weeks (one for the international agenda and another for sick leave) without delegating political composition powers only served to discredit the vice president-elect. Geraldo Alkmin and make it clear that PT will play a central role in the most strategic areas of public policy.deconstructing the post-election wishful thinking, thinking that there will be a coalition government with a slight left bias.

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In addition, aggressive statements against the market contributed to the revival. negative memories of past PT experiences about how to manage the household, calling the technical leadership of the party in a personal conversation, which “It’s okay that Lula wanted to redeem his background in this government, but he also wanted to redeem the government. Dilma (Roussef) it was too much!”🇧🇷 Business circles and market representatives, who are part of the network of communicating vessels connecting deputies and senators, tried to sound the alarm, it could not be otherwise.

The fact is that the new government, wanting to actually exercise power without sitting down in a chair, got into a complex labyrinth. In order to approve the PEC, will it have to make concessions in order to accommodate non-aligned parties in the formation of a new government? Can Lula carve out seats in government that serve only her friends during the first and second hours, and even then get the budgetary and enforcement resources he asks for? At least one thing is certain. Lula will create his own ministry, which will have to solve more conflicts than he would like. and is seriously at risk of starting his term having already lost his first legislative battle.

The fact is that while Lula was on the road or defended himself, the centrist parties did not seek or receive proposals for effective participation in the next government. So, Lyra had an open path to secure his re-election more easily than one could imagine, so much so that Lula’s possible support for his name or not today, in terms of results, does not matter much.

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And the scenario could get even worse for Planalto. If Lira implements the idea of ​​a bloc with the main parties in the center, the PT will not chair any of the most important parliamentary committees in the House.

And, understanding the difficulty of approving PECs, PT MPs will defend behind the scenes the use of STFs to obtain over-the-ceiling resources to pay Bolsa Surname🇧🇷 Given the circumstances of the hostility between the political world and the judiciary, one can think of a more difficult inauguration of the government than one that, after losing the political battle, resorts to the STF in order to be able to count on the resources denied by the deputies. and senators?

Thus, advertising supporting the lira shows that Lula was unable to consolidate his position in the Legislative Assembly and even lost his positions.🇧🇷 This raises the question of how the future government will organize its base, based on such an unfavorable point (there are only 133 deputies in the left coalition).

There are two scenarios.

In the first, Lula decides to rule with a minority and begins to debate agenda after agenda, trying to attract detractors by practicing big retail in Congress and keeping her legislative agenda to the minimum possible. The other is to recognize an equal in the lyre, Just like Jair Bolsonaro did.by inviting him to take a leading role in the government’s agenda and participate (or his closest group) in the development of major decisions, continuing the semi-presidency that actually exists in Brazil today.

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Lebanon fails to elect new president for seventh time due to political impasse – Middle East Monitor

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Lebanon fails to elect new president for seventh time due to political impasse – Middle East Monitor

Lebanese lawmakers on Thursday failed to elect a new president for the seventh time as the country grapples with a deepening political and economic crisis, the Anadolu news agency reported.

110 MPs out of 128 MPs took part in the voting.

Michel Moawad, a candidate backed by the Lebanese Armed Forces, won 42 votes, well short of the number needed to win in the first round, while 50 MPs voted against.

Speaker Nabih Berry scheduled the next vote a week later, on 1 December.

A candidate needs two-thirds of the votes (86 MPs) in the 128-MP parliament to pass the first round, and an absolute majority is required in subsequent rounds.

LEI: Lebanon condemns new Israeli violations of naval and air forces

Former President Michel Aoun stepped down on October 31 after serving a six-year term and lawmakers failed to agree on a successor.

Since 2019, Lebanon has been experiencing a devastating economic crisis that, according to the World Bank, is one of the worst the world has seen in modern times.

The country has not had a fully functioning government since May, with Prime Minister Najib Mikati and his cabinet having limited powers in their current interim status.

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talking and political animal

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talking and political animal

There is Ludwig Wittgenstein: language is not only used to describe reality, we also use it to ask for favors, to give thanks, to curse, to greet, to pray…

And it is necessary to take into account the context, the situation, the use. “It’s raining” can state the fact that it’s really raining. But suppose that the mother in the morning, when the son is getting ready for school, says to him: “It is raining”, he at the same time knows that he must take an umbrella. If in a peasant family, after a long drought, as now, the wife opens the window and says to her husband: “It is raining,” then this speaks of contentment. But if you were expecting a pleasant walk and you say, “It’s raining,” you’re in for a disappointment.
Language performs three main functions: expressive, appellative and representative. These functions are related to the relationship established between sender, receiver and objects: there is someone (the sender) who addresses someone (the receiver) to tell him something, making reality real.

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