The Panama Papers

[jbeas176]

one last thought. there are a lot of legal reasons to have shell corporations. estate protection and planning for one.

 

[r2d2]

What did you read that led you to believe that? Unless money enters Argentina it's not taxable here. Do you know that the Macri family's money in these accounts is Argentine-taxable and that they haven't paid, or are you just assuming?

Wrong. You have to declare your ownership in foreign corporations and also your money held in accounts abroad if you are a resident and especially if you are a resident citizen of Argentina.

Edit: Check out this article http://www.lanacion.com.ar/1612158-la-afip-descubrio-en-la-web-inversiones-en-el-exterior back from 2013 ...

 

[thorsten]

So far, he is only linked as a temporary director of the shell company - to my knowledge, no documents have leaked showing that he had a share in it (which is also what the official statement is). If that should be true, your statement wouldn't apply. To make it clear, I'm not saying that he's innocent, just that it hasn't been shown yet, so instead of making accusations, I'd just wait and see what comes out in the next few days...

 

[Rich One]

I could be late to the game, but read that his father's trading company was closed in 2009. may be a problem from when he was mayor of Buenos Aires.

Franco Macri has businesses in Uruguay, China and elsewhere? Moneys in the Panama account may be taxable elsewhere...

 

[r2d2]

So far, he is only linked as a temporary director of the shell company - to my knowledge, no documents have leaked showing that he had a share in it (which is also what the official statement is). If that should be true, your statement wouldn't apply. To make it clear, I'm not saying that he's innocent, just that it hasn't been shown yet, so instead of making accusations, I'd just wait and see what comes out in the next few days...

That is the beauty of shell corporations. The three can divide the shares the way the like between them, and if they do it right there are no "official" records. They could issue shares to their cats if they want to.

 

[rrptownley]

Shell corporations are used regularly to facilitate both the movement of money around the globe and the creation of corporations, businesses in proxy.

Chances are, if you have sent money through Xoom or Azimo, then you also could technically be linked to money in offshore accounts.

 

[Ceviche]

Unless money enters Argentina it's not taxable here.

Can you elaborate the source for your statement as above?? Never heard of that one

 

[Dada]

What the big deal is? Macri is head of the federal government. AFIP is an agency of the federal government. Macri was hiding undeclared income in a shell cooperation for himself, for his father, his brother, or most likely for all three. Evading taxes. Ever heard of leading by example?

Now everybody in Argentina can say: Why should I pay my taxes? The president was evading taxes. So it is legit to work in negro...

Of course any person in their sane judgement will do all they can to evade taxes as much as possible, the legal way. If what happened was beyond legal or not, that is a question for lawyers who know all the details, which I am not. All I know is that anyone who would keep a significant amount of family money in Argentine banks after Corralito, for whatever reasons, is not apt enough to run a business, let alone a country like Argentina.

 

[RodalfoWalsh]

I could be late to the game, but read that his father's trading company was closed in 2009. may be a problem from when he was mayor of Buenos Aires.

Without ever having more than $2000 in the bank.

This is much ado about nothing

 

[r2d2]

Of course any person in their sane judgement will do all they can to evade taxes as much as possible, the legal way. If what happened was beyond legal or not, that is a question for lawyers who know all the details, which I am not. All I know is that anyone who would keep a significant amount of family money in Argentine banks after Corralito, for whatever reasons, is not apt enough to run a business, let alone a country like Argentina.

Keeping money in banks abroad is not illegal for Argentinians and residents of Argentina - as long as they declare it. Obviously there is not need for a shell corporation to do that unless they want to hide it and not declare it.