A prestigious Panamanian law firm was named in the so-called "Pandora Papers" as implicated in the creation of offshore shell companies meant to hide money in tax havens for more than 160 politicians and public figures.
Others involved with Alcogal - co-founded in the 1980s by the son of a former Panamanian ambassador to the United States who then became ambassador himself - include a Honduran presidential candidate and a former president of Ecuador. So prolific was the law firm's offshore involvement that nearly two million of the 11.9 million leaked documents associated with the Pandora Papers - which were reported on by some 600 journalists - came from Alcogal.
"Firms like Alcogal propel that economy, helping well-heeled clients find havens to conceal their money, sometimes from tax collectors and criminal investigators. Ordinary people often pay the price," the ICIJ report on the firm said. "Alcogal rejects the conjecture, inaccuracies and falsehoods in the papers," the firm said, offering to work with authorities to investigate any irregularities.
The government worried about fallout from the new release, according to a letter from officials released by local media.
LeoVaradkar Perish the thought...
LeoVaradkar 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
LeoVaradkar 🤥
LeoVaradkar Loop holes... Our corporate taxation policies are effectively cargo nets
LeoVaradkar Please tell me this is an April fools joke all be it a tad late or a tad early !
LeoVaradkar And we plan on closing these loopholes by the year 2060. It gives us time to carefully prepare and think about these changes. Of course by closing these loopholes it's going to cost the taxpayer 180 billion.
LeoVaradkar Comedy Central 🤣 FrankFlannery
LeoVaradkar Don’t say Ireland… how Dublin people will travel… by the time you finish your project (3020) I can tell you that people will travel though spaceship 🚀 and drones …
LeoVaradkar
LeoVaradkar Not voted in by the people of Ireland
LeoVaradkar I genuinely laughed
LeoVaradkar Cant wait for the full disclosure of names to see how many Irish Polly's will be named
LeoVaradkar What!!! We are loop hole central!! Who does he think he's trying to convince!
LeoVaradkar
LeoVaradkar The same Leo Varadkar that has made Ireland a pariah in the global stage for refusing to streamline with global tax policy I wonder why that might be
LeoVaradkar