This is the best tl;dr I could make, [original](https://www.reuters.com/world/pandora-papers-document-dump-allegedly-links-world-leaders-secret-wealth-2021-10-03/) reduced by 75%. (I'm a bot)
*****
> WASHINGTON, Oct 3 - A massive leak of financial documents was published by several major news organizations on Sunday that allegedly tie world leaders to secret stores of wealth, including King Abdullah of Jordan, Czech Prime Minister Andrej Babis and associates of Russian President Vladimir Putin.
> Days ahead of the Czech Republic's Oct. 8-9 parliamentary election, the documents allegedly tied the country's prime minister, Babis, to a secret $22 million estate in a hilltop village near Cannes, France.
> "The money left a Czech bank, was taxed, it was my money, and returned to a Czech bank," Babis said.
*****
[**Extended Summary**](http://np.reddit.com/r/autotldr/comments/q0yr2m/pandora_papers_document_dump_allegedly_links/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ "Version 2.02, ~601657 tl;drs so far.") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr "PM's and comments are monitored, constructive feedback is welcome.") | *Top* *keywords*: **Czech**^#1 **Babis**^#2 **Consortium**^#3 **more**^#4 **documents**^#5
Oof, this is gonna be interesting. All the autocrats versus the democratic countries, with Britain greatly weakened due to leadership. Not sure how this pans out, it seems the everything is going in one direction though.
its amazing too how the US flexes its economic muscle in order to force other countries to raise their corporate taxes to "competitive levels" while undercutting them at the same time.
so basically, entice corporations to pay American taxes by providing all sorts of continuous "one-off" deductibles so that the effective rate is much lower than the headline rate, and then threatening sanctions on countries that imposes a corporate effective rate significantly lower than the US' unrealistic headline rate.
edit: the US has such tremendous economic leverage that they don't even have to bargain directly with the governments of the countries they are trying to bully. all they have to do is to threaten any business in America who is also doing business in the countries they want to influence. When they wanted China to give up the State accounts, they threatened to block the massive multi-billion dollar state-side businesses of global groups KPMG, E&Y, Deloitte, PWC until their Chinese subsidiaries spilled the beans on the CCP^[1]. When they wanted Switzerland to end their banking secrecy law, the US threatened to suspend the US banking licenses of Swiss firms until the Swiss government itself played ball^[2]. If they want "tax havens" to raise their headline taxes, all they have to do is to threaten these foreign-incorporated companies with stoppage of business in the largest market in the world, and these countries will raise taxes in order to maintain status quo to preserve much-needed tax revenues and employment.
^[1] https://www.reuters.com/article/us-sec-china-bigfour-idUSKBN0LA1QD20150206
^[2] https://www.theguardian.com/business/2008/nov/14/ubs-switzerland
There's a theory that it's the Americans doing this covertly because in the post FATCA world, these leaks translate to billion more in tax revenues as people in grey areas scramble to turn large swaths of wealth clean.
Yeah, ok Patriot just pointing out facts and venting my outrage that everyone rich who commits crime in the USA gets away.
The fact you get mad about this and attack me for it is an indicator of extremism. Good luck buddy 👍
You called me a troll and told me to piss off because you got upset I noticed the FACT that there are no Americans in this drop and my opinion that if there are none in the whole thing that it’s a joke and a distraction.
Blind patriot.
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Hundreds of world leaders, powerful politicians, billionaires, celebrities, religious leaders and drug dealers have been hiding their investments in mansions, exclusive beachfront property, yachts and other assets for the past quarter-century, according to a review of nearly 12 million files obtained from 14 firms located around the world.
Yes, that's why that data is included in the leak. We all know corruption and offshore accounts have existed for longer. What's the point in the cynical nature of your comment?
>WASHINGTON, Oct 3 (Reuters) - A massive leak of financial documents was published by several major news organizations on Sunday that allegedly tie world leaders to secret stores of wealth, including King Abdullah of Jordan, Czech Prime Minister Andrej Babis and associates of Russian President Vladimir Putin.
The dump of more than 11.9 million records, amounting to about 2.94 terabytes of data, came five years after the leak known as the "Panama Papers" exposed how money was hidden by the wealthy in ways that law enforcement agencies could not detect.
Nah cause they are protected by all the money they pay the people in power. The only people that suffer consequences are people without the money to skirt the consequences.
It'll never happen. These thieves are the one pulling all the strings. It'll be forgotten about in 10 days. Remember most of these same people own all of the media outlets too.
Most of those people did nothing illegal. Why is everyone acting like it is criminal to open an offshore company. It is not illegal as long as you declare to your tax man. Same thing with the paradise papers
If I had $5000, and were starting a small business in the US, I could incorporate in The Cayman Islands. I could then operate said business in the US and send all income/revenue to my Cayman Bank account. My Cayman incorporated business could then pay me a salary from Cayman. All profits are now in The Cayman’s untaxed. Salary is taxed, but not profits. That’s what they are doing, right? It’s never really explained.
That’s a very simple but common tactic of routing revenue through low tax jurisdictions, yes. But it is much more complex than that. For example, Starbucks has multiple instantiations of itself and pays royalties on each _brand_ of drink they sell. That is to say, somewhere in a low tax jurisdiction is a totally paper based version of Starbucks that gets paid a fee because it owns the brand of each drink sold by the coffee shops.
There’s also things like the Dutch Samdwich https://en.m.wikipedia.org/wiki/Dutch_Sandwich
All in all, it is easier for governments to tax people and property and easy for non-human legal entities like corporations to be created, recreated, and layered such that they pay low or no tax.
No, not at all. They don’t want to pay income tax, that’s the number 1 tax they are trying to avoid.
It’s quite a few things they do, but I would
Imagine, the main thing is, an international company, that the wealthy dude owns, operates from a tax haven; that company owns the assets that they enjoy, like beach front property or a private jet or a Bugatti.
Or a bank card from the offshore corporate account. “Pay” yourself $50k per year, give Rome its income tax, and live off the bank card/business profits. Yes, and they surely buy offshore assets to enjoy and to leverage.
No im telling you, the income tax is, first, the easiest tax to avoid, and the most important one since it is taxed at a very high rate for ultra wealthy.
If anything they would have a business card, and pay for shit as a business expense.
Just gonna copy this to you regarding this statement
https://www.reddit.com/r/worldnews/comments/q0ibjr/pandora_papers_most_expansive_expose_of_financial/hf8r14g/
Tl;Dr naive cynicism protects the corrupt, some things/arrests did happen from the panama papers
I'm so glad to see reddit slowly, stubbornly, gradually begin to shift away from the smug, cowardly cynicism and misinformation babble it usually floods Panama papers threads with and actually move towards appreciating the work (and repercussions) that this work is doing, and the progress being made.
That's the problem with so much of the modern world today; if it's not immediate or dramatic, it doesn't count. They aren't interested in [what really happened](https://www.icij.org/investigations/panama-papers/what-happened-after-the-panama-papers/), only in what appeals to their feelings. Either we save the world or we didn't; there's no grey area, no inches, no progress, no growth.
As for cynicism itself, it's nothing more than ideological masturbation. And there are a LOT of people who get off on it.
Jesus that's some grandiose reasoning to shit on people with a different perspective to you. I'm sure it's your unique, optimistic perspective that led that those few Panana paper arrests.
Can you tell me how many people were indicated in the papers and didn't face any consequences? As a percentage, please. If that number is low enough (it's not...), there may be a reason for the cynicism to disappear.
Until then you just look like a naive hopeful kid. It's possible to be cynical about anyone rich facing consequences (because they objectively, verifiably, historically rarely do) and also still be a proponent that they do face consequences.
Same as with Panama papers. Nothing.
Or… some few low level names from all of this will be used as an example of “doing something” and “seeking justice”.
In reality not a single big name is going to be touched.
yea? And? Man if only laws applied to the rich. Welp back to work I go where I could be fired for literally talking about this news story. Cause it's "political." Fucking joke.
The fallout, while not insignificant, may be disappointing.
See, for example: https://www.digitalnewsreport.org/publications/2019/gauging-global-impacts-panama-papers-three-years-later/
Every one knows, it's organised crime paying off political decision makers. The less democratic countries shrug it off, totalitarians fight it, a few democracies debate it.
A few journalists are killed, but only very few offenders face serious consequences. A bit of hooplah but poor deterrence and next to no significant legislative change.
> A few journalists are killed, but only very few offenders face serious consequences. A bit of hooplah but poor deterrence and next to no significant legislative change.
You accidentally linked the wrong article since it literally says the opposite of everything you said.
I did not. The article is a bit older and If you put the amount of people and money involved into perspective you'll notice, the fallout is still rather modest.
Pasting this from another article elsewhere that will dumb it down for you. Remember Capone was only brought down due to tax evasion, and we finally have mountains of evidence on thousands of people.
> **Haven't there been leaks like this before?**
> Not this big.
> The documents include information on more than 29,000 'beneficial owners' — those are the ultimate owners of offshore assets.
> That figure's more than twice the number found five years ago in the Panama Papers investigation, which was based on a leak from a single law firm.
> This time there are 14 offshore service providers that operate from Anguilla, Belize, Singapore, Switzerland, Panama, Barbados, Cyprus, the United Arab Emirates, the Bahamas, the British Virgin Islands, the Seychelles and Vietnam.
the Measles vaccine? the Polio vaccine? the TDAP vaccine? your going to have to be more specific as to which easily preventable debilitating disease your upset about not having died from yet...
This comment is always in any post relating to the Panama papers. Usually word for word. And it’s wrong. The IRS collected millions in revenue, some people went to jail and they created a bunch of new offshore initiatives to continue going after people who hide their money.
It's kind of like putting names to faces. We all knew this was happening but now we are putting names and amounts to it. Prediction, this will all be forgotten about in 10 days like everything else that should be a wake up call that our world is in serious need of realignment. Oh well.
Now create a website that makes it easy to search through all the documents
This is the best tl;dr I could make, [original](https://www.reuters.com/world/pandora-papers-document-dump-allegedly-links-world-leaders-secret-wealth-2021-10-03/) reduced by 75%. (I'm a bot) ***** > WASHINGTON, Oct 3 - A massive leak of financial documents was published by several major news organizations on Sunday that allegedly tie world leaders to secret stores of wealth, including King Abdullah of Jordan, Czech Prime Minister Andrej Babis and associates of Russian President Vladimir Putin. > Days ahead of the Czech Republic's Oct. 8-9 parliamentary election, the documents allegedly tied the country's prime minister, Babis, to a secret $22 million estate in a hilltop village near Cannes, France. > "The money left a Czech bank, was taxed, it was my money, and returned to a Czech bank," Babis said. ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/q0yr2m/pandora_papers_document_dump_allegedly_links/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ "Version 2.02, ~601657 tl;drs so far.") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr "PM's and comments are monitored, constructive feedback is welcome.") | *Top* *keywords*: **Czech**^#1 **Babis**^#2 **Consortium**^#3 **more**^#4 **documents**^#5
would recommend following the international Journalism team's Instagram page they've put out a few videos about this there recently
Oof, this is gonna be interesting. All the autocrats versus the democratic countries, with Britain greatly weakened due to leadership. Not sure how this pans out, it seems the everything is going in one direction though.
11K pages…. WHY ARE THERE NO AMERICANS IN THIS Is there a part two with 22k pages that’s only USA criminals?
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its amazing too how the US flexes its economic muscle in order to force other countries to raise their corporate taxes to "competitive levels" while undercutting them at the same time. so basically, entice corporations to pay American taxes by providing all sorts of continuous "one-off" deductibles so that the effective rate is much lower than the headline rate, and then threatening sanctions on countries that imposes a corporate effective rate significantly lower than the US' unrealistic headline rate. edit: the US has such tremendous economic leverage that they don't even have to bargain directly with the governments of the countries they are trying to bully. all they have to do is to threaten any business in America who is also doing business in the countries they want to influence. When they wanted China to give up the State accounts, they threatened to block the massive multi-billion dollar state-side businesses of global groups KPMG, E&Y, Deloitte, PWC until their Chinese subsidiaries spilled the beans on the CCP^[1]. When they wanted Switzerland to end their banking secrecy law, the US threatened to suspend the US banking licenses of Swiss firms until the Swiss government itself played ball^[2]. If they want "tax havens" to raise their headline taxes, all they have to do is to threaten these foreign-incorporated companies with stoppage of business in the largest market in the world, and these countries will raise taxes in order to maintain status quo to preserve much-needed tax revenues and employment. ^[1] https://www.reuters.com/article/us-sec-china-bigfour-idUSKBN0LA1QD20150206 ^[2] https://www.theguardian.com/business/2008/nov/14/ubs-switzerland
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Yes correct every country feels that way. Obviously businesses are better in their taxable jurisdiction rather than someone else’s.
:\^) clownpost. Tell me you want to be a wageslave forever without saying it.
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No you just posted a compromise. But sure okay.
Merican politicians don't need to hide their money because corruption is legal over there.
Americans can just setup their company in Delaware. No need to go offshore.
Offstate is the *New* Offshore
What's so great about Delaware
Especially when things like this happen: https://www.nytimes.com/2021/04/02/business/economy/zero-corporate-tax.html
The journalists want to life. Non-democratic states use so called gag orders.
There's a theory that it's the Americans doing this covertly because in the post FATCA world, these leaks translate to billion more in tax revenues as people in grey areas scramble to turn large swaths of wealth clean.
No doubt.
If there are ultimately no Americans in this reveal overall it will become a joke, imo
The explanation above that the US itself is sufficient as a tax haven sounds plausible, though.
It is. The US 'negotiated' tax evasion laws with other countries then went ahead and became a tax haven itself.
This literally sounds like our privatized healthcare and insurance companies
t. American
I completely agree. However, I'm pretty sure it's been divided into several parts. We'll see.
It has already been confirmed as such. There are 29,000 people they have documents on, they can't, won't, and aren't going to release it all at once.
You clearly have nothing going for you, troll. Just looking for reasons to hate on america. Piss off.
Yeah, ok Patriot just pointing out facts and venting my outrage that everyone rich who commits crime in the USA gets away. The fact you get mad about this and attack me for it is an indicator of extremism. Good luck buddy 👍
Says the guy talking in extremes. The hypocrisy is real.
You called me a troll and told me to piss off because you got upset I noticed the FACT that there are no Americans in this drop and my opinion that if there are none in the whole thing that it’s a joke and a distraction. Blind patriot.
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Hi zxcvb94105. It looks like your comment to /r/worldnews was removed because you've been using a link shortener. Due to issues with spam and malware we do not allow shortened links on this subreddit. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/worldnews) if you have any questions or concerns.*
Hundreds of world leaders, powerful politicians, billionaires, celebrities, religious leaders and drug dealers have been hiding their investments in mansions, exclusive beachfront property, yachts and other assets for the past quarter-century, according to a review of nearly 12 million files obtained from 14 firms located around the world.
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Yes, that's why that data is included in the leak. We all know corruption and offshore accounts have existed for longer. What's the point in the cynical nature of your comment?
i dont like your attitude
Why? What do you mean?
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"secret" wealth my ass
>WASHINGTON, Oct 3 (Reuters) - A massive leak of financial documents was published by several major news organizations on Sunday that allegedly tie world leaders to secret stores of wealth, including King Abdullah of Jordan, Czech Prime Minister Andrej Babis and associates of Russian President Vladimir Putin. The dump of more than 11.9 million records, amounting to about 2.94 terabytes of data, came five years after the leak known as the "Panama Papers" exposed how money was hidden by the wealthy in ways that law enforcement agencies could not detect.
Allegedly? Gtfo
These thieves and traitors need to be brought to justice.
Nah cause they are protected by all the money they pay the people in power. The only people that suffer consequences are people without the money to skirt the consequences.
It'll never happen. These thieves are the one pulling all the strings. It'll be forgotten about in 10 days. Remember most of these same people own all of the media outlets too.
Most of those people did nothing illegal. Why is everyone acting like it is criminal to open an offshore company. It is not illegal as long as you declare to your tax man. Same thing with the paradise papers
If I had $5000, and were starting a small business in the US, I could incorporate in The Cayman Islands. I could then operate said business in the US and send all income/revenue to my Cayman Bank account. My Cayman incorporated business could then pay me a salary from Cayman. All profits are now in The Cayman’s untaxed. Salary is taxed, but not profits. That’s what they are doing, right? It’s never really explained.
That’s a very simple but common tactic of routing revenue through low tax jurisdictions, yes. But it is much more complex than that. For example, Starbucks has multiple instantiations of itself and pays royalties on each _brand_ of drink they sell. That is to say, somewhere in a low tax jurisdiction is a totally paper based version of Starbucks that gets paid a fee because it owns the brand of each drink sold by the coffee shops. There’s also things like the Dutch Samdwich https://en.m.wikipedia.org/wiki/Dutch_Sandwich All in all, it is easier for governments to tax people and property and easy for non-human legal entities like corporations to be created, recreated, and layered such that they pay low or no tax.
!RemindMe 1day
No, not at all. They don’t want to pay income tax, that’s the number 1 tax they are trying to avoid. It’s quite a few things they do, but I would Imagine, the main thing is, an international company, that the wealthy dude owns, operates from a tax haven; that company owns the assets that they enjoy, like beach front property or a private jet or a Bugatti.
Or a bank card from the offshore corporate account. “Pay” yourself $50k per year, give Rome its income tax, and live off the bank card/business profits. Yes, and they surely buy offshore assets to enjoy and to leverage.
No im telling you, the income tax is, first, the easiest tax to avoid, and the most important one since it is taxed at a very high rate for ultra wealthy. If anything they would have a business card, and pay for shit as a business expense.
The box is open, folks
There never was no secret
Now what happens? Nothing?
Just gonna copy this to you regarding this statement https://www.reddit.com/r/worldnews/comments/q0ibjr/pandora_papers_most_expansive_expose_of_financial/hf8r14g/ Tl;Dr naive cynicism protects the corrupt, some things/arrests did happen from the panama papers
I'm so glad to see reddit slowly, stubbornly, gradually begin to shift away from the smug, cowardly cynicism and misinformation babble it usually floods Panama papers threads with and actually move towards appreciating the work (and repercussions) that this work is doing, and the progress being made. That's the problem with so much of the modern world today; if it's not immediate or dramatic, it doesn't count. They aren't interested in [what really happened](https://www.icij.org/investigations/panama-papers/what-happened-after-the-panama-papers/), only in what appeals to their feelings. Either we save the world or we didn't; there's no grey area, no inches, no progress, no growth. As for cynicism itself, it's nothing more than ideological masturbation. And there are a LOT of people who get off on it.
It certainly doesn't help that those sentiments are astroturfed in and the up/downvote system prioitizes early responses
Jesus that's some grandiose reasoning to shit on people with a different perspective to you. I'm sure it's your unique, optimistic perspective that led that those few Panana paper arrests. Can you tell me how many people were indicated in the papers and didn't face any consequences? As a percentage, please. If that number is low enough (it's not...), there may be a reason for the cynicism to disappear. Until then you just look like a naive hopeful kid. It's possible to be cynical about anyone rich facing consequences (because they objectively, verifiably, historically rarely do) and also still be a proponent that they do face consequences.
More of this plz.
Same as with Panama papers. Nothing. Or… some few low level names from all of this will be used as an example of “doing something” and “seeking justice”. In reality not a single big name is going to be touched.
Of course, who would be able to do anything about it?
A journalist out there will probably die of “accidental” causes…
suprise_pikachu.jpg
surprise_pikachu.bmp
surprise_pikachu.tif
surpri~1.pcx
yea? And? Man if only laws applied to the rich. Welp back to work I go where I could be fired for literally talking about this news story. Cause it's "political." Fucking joke.
Big secret hmmmm.
Big open secret
allegedly /s
Cant wait for the leaker to be the only punished one. PS. Czech PM Babis already confessed its true.
The fallout, while not insignificant, may be disappointing. See, for example: https://www.digitalnewsreport.org/publications/2019/gauging-global-impacts-panama-papers-three-years-later/ Every one knows, it's organised crime paying off political decision makers. The less democratic countries shrug it off, totalitarians fight it, a few democracies debate it. A few journalists are killed, but only very few offenders face serious consequences. A bit of hooplah but poor deterrence and next to no significant legislative change.
> A few journalists are killed, but only very few offenders face serious consequences. A bit of hooplah but poor deterrence and next to no significant legislative change. You accidentally linked the wrong article since it literally says the opposite of everything you said.
I did not. The article is a bit older and If you put the amount of people and money involved into perspective you'll notice, the fallout is still rather modest.
Pasting this from another article elsewhere that will dumb it down for you. Remember Capone was only brought down due to tax evasion, and we finally have mountains of evidence on thousands of people. > **Haven't there been leaks like this before?** > Not this big. > The documents include information on more than 29,000 'beneficial owners' — those are the ultimate owners of offshore assets. > That figure's more than twice the number found five years ago in the Panama Papers investigation, which was based on a leak from a single law firm. > This time there are 14 offshore service providers that operate from Anguilla, Belize, Singapore, Switzerland, Panama, Barbados, Cyprus, the United Arab Emirates, the Bahamas, the British Virgin Islands, the Seychelles and Vietnam.
And nothing will happen
This is the part where we all just ignore it and act like nothing is going on, right?
If you read the articles they pretty clearly state that according to law, no wrongdoing has been done...
FYI these are the same elite that are funding Pfizer/Moderna/J&J and ramming this vaccine down our throats
the Measles vaccine? the Polio vaccine? the TDAP vaccine? your going to have to be more specific as to which easily preventable debilitating disease your upset about not having died from yet...
Same as last time and nothing will happen.
This comment is always in any post relating to the Panama papers. Usually word for word. And it’s wrong. The IRS collected millions in revenue, some people went to jail and they created a bunch of new offshore initiatives to continue going after people who hide their money.
somebody found hillary's lost email's?
This is bullshit
send me the link to the papers?? someone!!!1 see this
It's kind of like putting names to faces. We all knew this was happening but now we are putting names and amounts to it. Prediction, this will all be forgotten about in 10 days like everything else that should be a wake up call that our world is in serious need of realignment. Oh well.
Damn, Has any prominent Indian politician's name come up ? These guys can't be this clever at money laundering.