More than a dozen heads of state and government, from Jordan to Azerbaijan, Kenya and the Czech Republic, have used offshore tax havens to hide assets worth hundreds of millions of dollars, according to a far-reaching new investigation by the ICIJ media consortium.

 

The so-called “Pandora Papers” investigation, involving some 600 journalists from media including The Washington Post, the BBC, The Guardian, Radio France and the Indian Express, is based on the leak of some 11.9 million documents from 14 financial services companies around the world.

 

THAILAND

Among those listed with offshore entities are Thailand’s six families, with the Chiaravanont clan, Thailand’s richest family, according to Forbes, who is behind Charoen Pokphand (CP) Group, and the Sirivadhanabhakdi clan, the country’s third richest, which is behind the Thai Beverage and TCC Group, found to have owned several offshore entities.

 

Full Story: https://www.thaipbsworld.com/leaked-pandora-papers-expose-world-leaders-offshore-entities-thai-tycoon-families-also-listed/

 

-- © Copyright Thai PBS 2021-10-04

 

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Most of  offshore entities  are not illegal! Its only good tax planning. If you have several million's capital, why pay extra tax or tax over tax. I was doing tax planning, my Finnish company owner was my Estonia company whitch was owned company in Scotland. In Scotland i had only adress whit 3 other guy's, one room residence. But if want pay extra tax go for it. Have sold already all, dont know how this company "trik" works now days. But normal things, ofcourse if there is criminal money that kind need find.

Edited October 4, 20214 yr by 2 is 1

That's ok.  Now the government will enact legislation that will put mom and pops pensions and the minuscule transfers of the masses under a magnifying glass.  The rich and wealthy? Hey - the banks simply launder their money and then accept the small fines as part of doing business as no bank executive ever goes to jail for breaking money laundering laws.  Someone shined a light on the cockroaches and they scattered - but they are still there.

Another skullduggery ship that passes in the night without notice. 

Been of this nature forever. 

Ho Hum....

Look at it this way:

 

Finally a lucky break for TAT.

They were long and hard on the hunt for bringing in the wealthy...

Now they got a list of names to approach!

No more excuses!!

Anything new worth reporting on, you know -  something that just might benefit those who don't or can't dodge paying legitimate taxes.

 

Nothing wrong with tax avoidance - but dodgie dealings need exposing and correcting - - yeah, I know wishful thinking. 

In a country that seems unwilling to sucessfully prosecute elites that may be murderers of police, may be killers and eaters of protected species, may be illegal importers, may be scammers and law breakers extraordinaire, may have slaughtered innocents in nightclubs, may have spread covid from dens of pretty iniquity WHY would they be bothered by the exposure of a few offshore assets and accounts. 

Edited October 4, 20214 yr by MRToMRT

Well and good, but unless:

 

a) They've actually done something illegal outside of Thailand. and

 

b) an international court takes action.....

 

It's just a mild embarrassment, in fact some of them might even gain enormous face in the places that matter to them.

Edited October 4, 20214 yr by chalawaan

So what? I'm seeing news headlines reported about 'secret accounts' on every TV news channel.

 

There's nothing 'secret' about them, they're just offshore accounts and who in their right mind advertises what they do with their money?

 

Someone stole this data from banks in financial service centers and the worlds media is publishing all this stolen information.

 

It's not a 'leak' - it's data theft. I wonder who paid the hackers to do this?

Edited October 4, 20214 yr by ukrules

49 minutes ago, Artisi said:

Anything new worth reporting on, you know -  something that just might benefit those who don't or can't dodge paying legitimate taxes.

 

Nothing wrong with tax avoidance - but dodgie dealings need exposing and correcting - - yeah, I know wishful thinking. 

There's plenty wrong with tax avoidance. Mainly that it's only reserved for the elites of this crappy planet. I was almost put in jail for daring to have an measly few kilos of gold outside of Australia (all declared) whilst being a permanent expat!

Think it's BS? Ask a good overseas tax accountant. I lost a lot of my super unwinding that at prices lower than I bought, to avoid becoming a criminal fugitive. 

Edited October 4, 20214 yr by chalawaan

I wonder if anyone took the time to analyze if some people or some companies were missing in these papers... could be a hint as to who leaked it.

Thai crooks can hide their ill gotten gains in plain sight, no need to offshore.

"It's not illegal" is typical defense of offshore accounts

Who writes the laws? Who is beholden to the rich and powerful?

38 minutes ago, chalawaan said:

There's plenty wrong with tax avoidance. Mainly that it's only reserved for the elites of this crappy planet. I was almost put in jail for daring to have an measly few kilos of gold outside of Australia (all declared) whilst being a permanent expat!

Think it's BS? Ask a good overseas tax accountant. I lost a lot of my super unwinding that at prices lower than I bought, to avoid becoming a criminal fugitive. 

The planet ain't crappy, per se.

These accolades should be reserved for the particular creates that stand up right. 

Crappy. That's being nice.

So what?  Hardly new news is it. 

3 hours ago, 2 is 1 said:

Most of  offshore entities  are not illegal! Its only good tax planning.

But when Apple, Google, Amazon or whoever do it, it's a sign of moral bankruptcy in avoiding paying their way in society?

The small guy has no chance of avoiding tax while these massive companies can do as they please all while paying substandard wages and insisting on importing cheap labor from abroad and then watching us fight over the crumbs that are left . The wealth gap is getting wider 

3 hours ago, MRToMRT said:

In a country that seems unwilling to sucessfully prosecute elites that may be murderers of police, may be killers and eaters of protected species, may be illegal importers, may be scammers and law breakers extraordinaire, may have slaughtered innocents in nightclubs, may have spread covid from dens of pretty iniquity WHY would they be bothered by the exposure of a few offshore assets and accounts. 

You forgot prosecuted drug dealers. .... 

1 hour ago, chrisandsu said:

The small guy has no chance of avoiding tax while these massive companies can do as they please all while paying substandard wages and insisting on importing cheap labor from abroad and then watching us fight over the crumbs that are left . The wealth gap is getting wider 

Citizens in democratic countrys need vote people in parlaments who chance laws! But if most "democratic" country's leader (Donald) doing same kind tax planing him self, what kind message that show to others! Yes rounding tax is huge problem but laws allow to do that! I think nobody want all kind tracking to all things what doing! Or total police state! 

No. It's not illegal. It's just immoral. International tax laws are a joke. These people need to pay taxes.

5 hours ago, Emdog said:

"It's not illegal" is typical defense of offshore accounts

Who writes the laws? Who is beholden to the rich and powerful?

What advantage is there for a country to allow people to say their money is offshore?

Does it outweigh the loss of tax income?

4 hours ago, treetops said:

But when Apple, Google, Amazon or whoever do it, it's a sign of moral bankruptcy in avoiding paying their way in society?

When they use the roads, the justice system etc etc and their employees use the schools, the hospitals etc etc how can they say they are really in Luxembourg or the Caymen Islands?

Pay your taxes where you make the money.

8 hours ago, Emdog said:

"It's not illegal" is typical defense of offshore accounts

Who writes the laws? Who is beholden to the rich and powerful?

Sorry but to me this kind is pathetic! If yourself want pay more tax be my guest! I say there is not many people in hole planet who want pay more tax! I have pay income tax almost 60% in Finland i think i have do my part! Yes is nice that poor and people who havent "manage" they life get social security +free health care+free house+money+free school...... Still i dont want pay 70% to give money to other's! Reason i chance all my work to my own company to avoid tax! Enough is enough! When i was my conpany owner i paid 29%! After move to other countrys i paid 0% only expenses to move!

Edited October 4, 20214 yr by 2 is 1

When a politician whose salary is less than $200, 000 has millions stowed in offshore accounts , It does not take a great leap of imagination to think that such funds are the result of illegal activity. 

1 minute ago, sirineou said:

When a politician whose salary is less than $200, 000 has millions stowed in offshore accounts , It does not take a great leap of imagination to think that such funds are the result of illegal activity. 

That is problem in that country where he/she has make money not problem of bank! Hope nobody dont want stop global banking system?! Or we can go back in stone age and sent money whit "letters"! Soon i finaly buy Bitcoin LOL

10 hours ago, 2 is 1 said:

Most of  offshore entities  are not illegal! Its only good tax planning. If you have several million's capital, why pay extra tax or tax over tax. I was doing tax planning, my Finnish company owner was my Estonia company whitch was owned company in Scotland. In Scotland i had only adress whit 3 other guy's, one room residence. But if want pay extra tax go for it. Have sold already all, dont know how this company "trik" works now days. But normal things, ofcourse if there is criminal money that kind need find.

Offshore entities are legal.  They can be used for legal, questionably legal, and clearly illegal purposes. 

 

If your clients are going to great lengths to keep their relationships with offshore entities a secret, odds are they are doing something illegal.  At the very least they are taking advantage of questionable tax loopholes that they want to keep secret so they won't be closed or tested in court.

10 minutes ago, 2 is 1 said:

That is problem in that country where he/she has make money not problem of bank! Hope nobody dont want stop global banking system?! Or we can go back in stone age and sent money whit "letters"! Soon i finaly buy Bitcoin LOL

I don't think any of that is proposed. This not an expose on the Banks but rather on those who use them for nefarious purposes, Which is why the article concentrates on world leaders rather that all the others who use them for lawful and legitimate purposes 

9 hours ago, ukrules said:

Someone stole this data from banks in financial service centers and the worlds media is publishing all this stolen information.

There's a lot more to it than just offshore 'tax havens' - lots of dodgy dealings are being brought to light. Boris is getting a grilling over some donations  - 1/2 a mill£ a 'kind hearted' businessman gave the Tories and of course didn't want or get anything in return.  The Ukraine PM found to have a couple of undeclared villas - etc. etc. etc.  No doubt more will emerge about further dodgy dealings in Thailand but as with the UK, nothing will come of it.  Big news for a few days then slowly it goes away.

1 hour ago, heybruce said:

Offshore entities are legal.  They can be used for legal, questionably legal, and clearly illegal purposes. 

 

If your clients are going to great lengths to keep their relationships with offshore entities a secret, odds are they are doing something illegal.  At the very least they are taking advantage of questionable tax loopholes that they want to keep secret so they won't be closed or tested in court.

So that is up to banks and countrys who allow banking system to "wash" illegal money! Its not problem of guys like me who want only use legaly system possible! Before judge all watch system itself! Problem is not user, problem is who allow system! Communist system was really nice idea, only never cant come true coz human (animal) is greedy! If you want marx system and everything for all then maybe need move to Cuba!

Edited October 4, 20214 yr by 2 is 1

10 hours ago, chalawaan said:

There's plenty wrong with tax avoidance. Mainly that it's only reserved for the elites of this crappy planet. I was almost put in jail for daring to have an measly few kilos of gold outside of Australia (all declared) whilst being a permanent expat!

Think it's BS? Ask a good overseas tax accountant. I lost a lot of my super unwinding that at prices lower than I bought, to avoid becoming a criminal fugitive. 

as  far as im concerened  tax  is a  game and I  tell them as  little  as  possible.