The Panama Papers

[r2d2]

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

Yeah it's hilarious ...

 

[RichardP]

One PM down.

http://www.nytimes.com/2016/04/06/world/europe/panama-papers-iceland.html?_r=0

 

[EJLarson]

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....-en-el-exterior back from 2013 ...

After consulting with my in-house tax and accounting expert, I was wrong re the reporting. The existence of an off-shore investment, however, is in no way an indication of tax evasion (as opposed to tax avoidance, which is legal). I have no idea what the Macris do with their money and have even less of an idea as to whether they stayed legal. I do question, however, the quick-to-judge posters who are claiming, with apparently no evidence, that the Macris have broken the law.

Let's see how this shakes out before declaring someone's guilt.

 

[EJLarson]

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

Elaboration: I'm wrong.

 

[fcoulombe]

What's the legal difference between evasion and avoidance?
My understanding is that you can (with some money) open a company in certain countries which happen to have tax benefits (or not much obligations)

Your company can own money and as long that it's a corporation, the company counts as its own entity and any tax obligations are based on where the company is based. (Let's say Panama)

After that you re an employee and you normally receive some kind of $ benefit from running a company.
Whether that money stays in Panama or gets transferred in Argentina, that money needs to be declared to afip (if you can figure out which tramite... It looks like an absolute nightmare that makes no economical sense)
But since Argentina and Panama don't have an agreement on sharing data, Panama makes an ideal place to leave your money (relatively) tax free and no one s ever gonna find out (unless there s a security breach)

 

[fcoulombe]

After that, try to find a serious argentine company that doesn't have an account in Panama.... I'm pretty sure you re looking at something above 50%. It's a product of our local economy (and people s mentality)

 

[scotttswan]

avoidance is legal, evasion is illegal.

 

[Bajo_cero2]

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...

Right and not Thorsten.

Regarding law you are right but the issues are also political because he is the President and one who made his campaign based on fighting corruption while the former President was continuously accused by Lanata at National TV about money laundry using off shore accounts. The big problem here is that Fernandez de K is not in the Panama papers and he, his father, his brother (who opened 5 new accounts since he became President) and many member of his team are in the panama leaks.

The situation is even worst because he change the decree erasing the requirement of being a lawyer for becoming the head of the anti corruption agency. He did it for appointing Laurita Alonso, an ultra Macrista sociologist who, instead of making the proper criminal complaint, was defending him on the media. This is why there is a criminal complaint against her for breach of the duties of public officials and abetting.

Remember that I asserted some months ago that appointing Laurita Alonso as the head of the anti corruption agency was the best way to guarantee "immunity".

 

[Bajo_cero2]

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?

You are, as usual, talking about the law of another country. Even there seems to be a loophole in the US, here there is none.

You have the answer at the income tax law.



LEY DE IMPUESTO A LAS GANANCIAS
[background=rgb(179, 217, 226)]Texto Ordenado por Decreto 649/97 (B.O. 06/08/97), Anexo I, con las modificaciones posteriores.[/background]
[background=rgb(179, 217, 226)]Ver Antecedentes Normativos[/background]

TITULO I ​

[background=rgb(179, 217, 226)]DISPOSICIONES GENERALES[/background]​

[background=rgb(179, 217, 226)][background=rgb(179, 217, 226)]SUJETO Y OBJETO DEL IMPUESTO[/background][/background]​

[background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)]Artículo 1° - Todas las ganancias obtenidas por personas de existencia visible o ideal quedan sujetas al gravamen de emergencia que establece esta ley.[/background]
[background=rgb(179, 217, 226)]Los sujetos a que se refiere el párrafo anterior residentes en el país, tributan sobre la totalidad de sus ganancias obtenidas en el país o en el exterior, pudiendo computar como pago a cuenta del impuesto de esta ley las sumas efectivamente abonadas por gravámenes análogos, sobre sus actividades en el extranjero, hasta el límite del incremento de la obligación fiscal originado por la incorporación de la ganancia obtenida en el exterior.[/background]

As soon as Macri, his family and their companies are here, they are taxable:
Art. 26 -[background=rgb(179, 217, 226)] A los efectos de las deducciones previstas en el artículo 23, se consideran residentes en la República a las personas de existencia visible que vivan más de SEIS (6) meses en el país en el transcurso del año fiscal.[/background]

The crime is evasion agravada because the off shore accounts are used in the following way: a ghost company enacts an invoice generating debt for a company here in Argentina. The local company pays a debt and transfer the money to the off shore account. Then they declare it as a lost and they save income tax (35%). The problem is, like in the Macri case, that he is the owner of the local company and the president of the loss shore company. This is why this has to be investigated.

REGIMEN PENAL TRIBUTARIO
Ley 24.769
Delitos tributarios. Delitos relativos a los Recursos de la Seguridad Social. Delitos. Fiscales Comunes. Disposiciones Generales Procedimientos Administrativo y Penal. Derógase la Ley 23.771.
[background=rgb(179, 217, 226)]Sancionada: Diciembre 19 de 1996. [/background]
[background=rgb(179, 217, 226)]Promulgada de Hecho: Enero 13 de 1997.[/background]
[background=rgb(179, 217, 226)]Ver Antecedentes Normativos[/background]
[background=rgb(179, 217, 226)]El Senado y Cámara de Diputados de la Nación Argentina reunidos en Congreso etc., sancionan con fuerza de Ley:[/background][/background][/background]

[background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)]TITULO I[/background][/background][/background]​

[background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)]DELITOS TRIBUTARIOS[/background][/background][/background][/background]​

[background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)]Evasión simple[/background][/background][/background][/background][/background]​

[background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)]ARTICULO 1º — Será reprimido con prisión de dos (2) a seis (6) años el obligado que mediante declaraciones engañosas, ocultaciones maliciosas o cualquier otro ardid o engaño, sea por acción o por omisión, evadiere total o parcialmente el pago de tributos al fisco nacional, al fisco provincial o a la Ciudad Autónoma de Buenos Aires, siempre que el monto evadido excediere la suma de cuatrocientos mil pesos ($400.000) por cada tributo y por cada ejercicio anual, aun cuando se tratare de un tributo instantáneo o de período fiscal inferior a un (1) año.[/background]
[background=rgb(179, 217, 226)](Artículo sustituido por art. 1° de la Ley N° 26.735 B.O. 28/12/2011)[/background][/background][/background][/background][/background][/background]

[background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)]Evasión agravada[/background][/background][/background][/background][/background][/background]​

[background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)][background=rgb(179, 217, 226)]ARTICULO 2° — La pena será de tres (3) años y seis (6) meses a nueve (9) años de prisión, cuando en el caso del artículo 1º se verificare cualquiera de los siguientes supuestos:

a) Si el monto evadido superare la suma de cuatro millones de pesos ($4.000.000);

b ) Si hubieren intervenido persona o personas interpuestas para ocultar la identidad del verdadero sujeto obligado y el monto evadido superare la suma de ochocientos mil pesos ($800.000);

c) Si el obligado utilizare fraudulentamente exenciones, desgravaciones, diferimientos, liberaciones, reducciones o cualquier otro tipo de beneficios fiscales, y el monto evadido por tal concepto superare la suma de ochocientos mil pesos ($800.000);

d) Si hubiere mediado la utilización total o parcial de facturas o cualquier otro documento equivalente, ideológica o materialmente falsos.[/background][/background][/background][/background][/background][/background][/background]


Nice article of the former accounting expert of the Supreme Court that asserts that it is naive to believe that the President has nothing to do with the off shore accounts.
http://www.perfil.com/politica/Es-al-menos-ingenuo-creer-que-no-tuvo-nada-que-ver-20160405-0030.html

 

[ben]

The situation is even worst because he change the decree erasing the requirement of being a lawyer for becoming the head of the anti corruption agency. He did it for appointing Laurita Alonso, an ultra Macrista sociologist who, instead of making the proper criminal complaint, was defending him on the media. This is why there is a criminal complaint against her for breach of the duties of public officials and abetting.

Regarding something on which there is across-the-board consensus, from AFIP to independent tax experts, to Daniel Scioli, that there is nothing wrong.

Reports have also surfaced that Ms. Alonso has claimed that the NYT didn't splash Macri across its front page, as K papers claim.