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Panama tax evasion


Mr Rational

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Jesus Christ, you have just spent the last four pages telling us that this is really none of our business when it comes to UK citizens but now you want to get all high and mighty about corruption in Russia. You hold some very strange positions.

At no point did I say that criminality and illegality by UK citizens was none of your business.

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Has Putin broken any laws or are you just presuming here?

The allegations about the Putin money is that it has been used to launder money for and on behalf of those who use the banking facilities of Bank Rossiya in violation of both the letter and spirit of international economic sanctions, so yes, there is the suggestion of illegality by either or both of Putin and his associates.

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I don't see any problem with naval blockades and similar of tax havens that are unresponsive to diplomatic and economic sanction based pressure to adopt accounting and transparency requirements that prevent tax minimisation strategies from being successful.

Good luck with the naval blockade of Switzerland.

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Good luck with the naval blockade of Switzerland.

:lol:

Switzerland has, of course, been responsive to pressure from the European Union to reform its bank secrecy laws, and it is already helping tax authorities to investigate assets and accounts believed to be connected to fraud and evasion.

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:lol:

Switzerland has, of course, been responsive to pressure from the European Union to reform its bank secrecy laws, and it is already helping tax authorities to investigate assets and accounts believed to be connected to fraud and evasion.

 

Hervé Falciani sentenced in his absence for financial espionage by federal court for exposing wrongdoing at HSBC’s private Swiss bank

 

Great response.

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The Swiss have moved away from total secrecy.  I understand you can no longer get Bourne Identity style numbered accounts.

 

I would love a numbered account, it would be so cool.  Sadly mine would contain £3.76.

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Icelandic PM has quit.

 

Untenable situation.  

 

Faisal Islam, Sky News, asked David Cameron about this today and the PM said that he owned no shares and had no overseas, offshore interests.

 

I'd be surprised if a serving PM had anything like that to be honest.  I can imagine that former PMs and/or Cabinet minister may have though...

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Robert Peston:

 

 

However much any of us may love and honour our fathers, it really isn't on to hold us responsible for what our dads' did while we were growing up.

So the revelation about quite how adept David Cameron's late father Ian was at tax avoidance surely can't be laid at the prime minister's door.
 

That said, David Cameron and Downing Street apparently feels vulnerable about all this - or why else would they be shouting quite so loudly about how the prime minister has been "leading the way" with crackdowns on tax avoiders and tax evaders?
 

But what about the prime minister as an economic entity in his own right - does he engage in tax "planning", to use the euphemism employed by accountants who devise clever schemes to legally reduce their clients' tax liabilitiies?
 

Well Cameron insisted this afternoon that he has no shares, no offshore trust, no overseas funds, no hidden wealth - just a house that's rented out and some interest-paying savings.
 

So he is categorically not a chip off the tax avoiding block, he more-or-less said.
 

But it was striking that the prime minister used the first person singular when talking about this.
 

He did not include his wife Sam and children in this drawing back of the veil on his assets.
 

I have asked Downing Street whether David Cameron's "I" was actually a "we" - whether the assets he discloses are all the property and wealth of his children and wife Sam too.
 

They haven't yet got back to me on this.
 

Was my question impertinent, as Downing Street half implied?
 

Well I suppose if Sam Cameron has chosen to be a tax avoider, that would be her own business - though it would be a bit odd given the potential embarrassment to her husband.
 

As for the children, well they are not old enough to instruct clever-clogs accountants, so it is surely reasonable to assume that David Cameron's clean hands display must refer to them too - because the damage to him would be serious it that turned out not to be the case.

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Icelandic PM has quit.

 

Untenable situation.  

 

Faisal Islam, Sky News, asked David Cameron about this today and the PM said that he owned no shares and had no overseas, offshore interests.

 

I'd be surprised if a serving PM had anything like that to be honest.  I can imagine that former PMs and/or Cabinet minister may have though...

Osborne had a 4 million trust fund in the cayman Islands when he became chancellor, whether he retained it we don't know

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Robert Peston:

 

I'd love Sam to dump him and and tell him to whistle for his Dad's millions. He could hardly claim it was really his if it was lying in a tax avoidance shelter somewhere. Wid btw.

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