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FROM THE - CHRONICLES of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for WANTED SA~
~Contributed & Written by Kenneth Rijock ~
Published on April 6th 2016
The Finance Minister of France, Michael Sapin, in a meeting of the National Assembly, has advised lawmakers that he intends to place the Republic of Panama back on the French list of uncooperative tax havens. The grounds appear to be the earth-shattering disclosures popularly known as the Panama Papers, specifically the actions of the law firm of Mossack & Fonseca, in setting up offshore corporations for foreign nationals who were tax evaders.
Sapin also noted for those at the meeting that Panama has failed to follow through on its commitment to the OECD to share tax information with the countries of the European Union. The automatic tax information exchange has been proceeding in schedule at other offshore financial centers, but Panama has resisted orderly cooperation.
515 Panama shell companies showed up in French criminal investigations in 2015, according to statements of the Finance Ministry, which has now opened a new investigation into aggravated tax evasion of it citizens, as the direct result of the Panama Papers scandal.
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