Wednesday, May 2, 2018

LATEST NEWS ON THE PANAMA PAPERS

We need this to be done in Puerto Rico! I not only know that Puero Rico, USA is used as an offshore banking, we believe the local wealthy might have found a loophole to benefit from this same privilege. Therefore only the poor and the honest in PR pay taxes. IRS should force PR government to make public who benefits from this outrageous privilege!
MJR
LATEST ON PANAMA PAPERS
May 2, 2018
Dear Miriam,

As ICIJ’s director I am incredibly proud to share with you news from the United Kingdom today that shows how our work makes a difference.

More than two years after we released the Panama Papers, the UK government announced it will force its overseas territories, such as the British Virgin Islands (BVI) and the Cayman Islands, to have public ownership registers. This means, the owners of companies in these territories will be revealed. As you may remember from our reporting at the time, the BVI was one of the most frequently used tax havens by Mossack Fonseca, the firm at the heart of the Panama Papers.

Conservative MP Andrew Mitchell said that the justification for this disclosure was made “eloquently but passively” by the leaking of the Panama and Paradise Papers.“It is only by openness and scrutiny, by allowing charities, NGOs and the media to join up the dots, that we can expose this dirty money and those people standing behind it. Closed registers do not begin to allow us to do that.”
This is the kind of real and lasting impact that can happen when ICIJ’s global team of reporters work together. Our job as reporters is to reveal hidden truths so that communities around the world can be inspired to take action.

Gerard Ryle, Director