Government responds to Pandora Papers

781Views 2Comments Posted 03/10/2021

Government responds to Pandora Papers


Reacting to the release of the Pandora Papers a statement from the Presidency said that “without prejudice to the freedom of the press and information that we strongly respect, and with the intention of avoiding sensationalist assessments such as those that have caused us great harm in the past, we are working in a cohesive and inter-institutional manner, determined to counteract the negative repercussions of any tangential scandal in which they want to involve the country. "

The note from the Government of Panama indicates that, through the Ministry of Foreign Relations, the management team of the ICIJ has been informed to follow "its publications carefully and that they should avoid references without informative justification associated with the country."

The Panamanian government stated that “the Superintendency of Non-Financial Subjects, in turn, will immediately supervise the obligated subjects of our jurisdiction mentioned in the publication, as part of our timely response, for the protection of the country's image and reputation ”.

It was reported that the " General Directorate of Revenue (DGI) will initiate the processes of inspection of natural and/or legal taxpayers in the Republic of Panama indicated by the same publication and will attend to the exchange of information with the aforementioned jurisdictions."

Panama has signed international cooperation agreements such as the Multilateral Competent Authority Agreement (MCAA), the Multilateral Convention to Implement Measures Related to the Tax Treaty to prevent base erosion and the transfer of benefits (MLI), and Mutual Administrative

Assistance. in Tax Matters (MAC) and has implemented the Organization for Economic Cooperation

and Development (OECD) project on Base Erosion and Profit Transfer (BEPS) to address tax evasion, improve the coherence of international tax regulations and ensuring a more transparent and competitive international tax environment.

"As a result of the continuous work that we are carrying out, in a single year, due to breach of Panamanian regulation, more than 50% of the 762,709 legal entities registered in the Public Registry were suspended, we promote constant supervision of the performance of resident agents and firms of local lawyers, and we comply with the exchange of tax information with 66 countries through the DGI, "the statement said.

President Cortizo said: "It is our duty to defend the interests of the nation and fight so that the name of the country is not associated with activities that we repudiate and that we fight with the law.

Comments 2

George Klk

Panama: Citizens Corruption Tools to Analize Unforeseen International Invasions. Panama Canal Expansion, I predicted was going to be power struggle for its takeover. Analytical Facts: 1. 1984: Bernicio Robinson from a certain sect of the political party wanted by his norms... re-enact his... free vehicles for 71 deputies Kings and Queens policy for 2021. 1984: The old USA canals was not even transferred to Panama's control until Dec. 1999! 2. 2016: Mossack Fonseca... Panama Papers global scandal affected Panama's reputation! 3. 2009 - 2014: Panama president Martinelli purchase of Pegasus spy equipment through his personal Secretary Chichi De Obarrio for the sum of $14 million from State funds... PAN. Chichi De Obarrio rewarded with estimated $500,000 wedding and $500,000 home... State funds. Chich De Obarrio fled Panama, was apprehended and never extradited to Panama for... critical and crucial evidence for alleged privacy of invasion crimes committed by Martinelli in a recent developing trial. 4. Martinelli alleged privacy invasion included Judges, lawyers, journalists and business men. 5. Martinelli used lawsuits for defamation, political persecution, delay tactics and the... Guatemala Parliament as a sworn deputy member to provide himself [IMPUNITY]! Martinelli calls this criminal underground a... "Den of Thieves"! 6. Martinelli was reportedly known to walk into a bank and stated, ... " THE BOSS" ... for untold sums of... [CASH]... and was never investigated let alone indicted. 7. Martinelli was reportedly known to have a large suit case of [CASH] hand delivered to his door of tax payer's funds. 8. Martinelli attempted to sue Panama's former Attorney General to confiscate her house while living with her children. 9. Martinelli was involved with other alleged corruption business practices with little investigation information on the matter with most of his alleged crimes... dismissed! 10. Former president Varela almost provided China with a $50 million restaurant as part of the Fourth Bridge construction project, a possible alleged crime never investigated. 11. Panama National Assembly hiking the price of government office supplies... air conditioners and surveillance cameras for profits... never investigated. 12. Yanibel Abrego, former president of Panama National Assembly was not investigated due to her re-election for another government position. a. Abrego prevented the former Comptroller General alleged investigations of $100's millions of... State funds improperly used to pay staff for work not done among other things. b. Abrego and PNA members used personal family member in their payrolls. c. Abrego used her property to excavate dirt with her three 4-wheel drive vehicles and 3 pickup trucks to carry and deliver dirt over the years acquiring $millions (dirt and Panama cement) in the process while destroying the grounds, harboring mosquitos and the potential danger of heavy rain erosions of said excavation site. Excavation she claims is a beautiful lake. Aerial photos as evidence to her crimes tells another story as the funds from the State / PNA may have provided her with the equipment she needed! 13. Panama president Cortizo has not been investigated as president for the crimes of self-enrichment due to the potential sale of dirt as manure - compost / fertilizer with... Abregos partnership cooperative operation. 14. 2009: Abrego / Martinelli office began with an enacted... Double Dipping self-enrichment bill! 15. Martinelli sons have been in detention for over a year awaiting extradition to the... United States for money laundering. 16. Martinelli is facing trial without a [KEY] witness, his personal Secretary Chichi De Obarrio for the purchase and use of the Pegasus spy equipment... others involve convicted. 17. Martinelli is forming his new party for his re-election campaign for another... 5-years of scandalous, complicated power of impunity and further alleged crimes against the finances and economy of the State. 18. International Consortium of Investigative Journalist (ICIJ) reported on a high-profile case called the Panama Papers with millions files exposed of clients and their tax evasion operations. ICIJ are now reporting the Pandora Papers, renewing investigation with Panama's fear of another reputation tarnish from new revelations of Panama's three presidents from the previous years. Analytics will soon come to the fore with factual data on the events to come from Panama underground operations with... a. Brazil: (Odebrecht) bribery payments for construction contracts and Panama's debt of $9 Billion. b. Italy: (Berlusconi visit) signing documents? c. Italy: (Ferrugia: head banker off shore island headquarter operations). d. Panama - Italy: Martinelli / Ferrugia ($30,000 pact). e. Panama - China: Xi and Varela: 26 Non-Transparent Agreements. f. Panama renews 25-year concession with Hutchisons Panama ports Controversial deal with Panama business unions for possible non-payments. This list is by no means exhausted and crimes with non-transparency and monetary thefts from Panama's trusted government is now just that... not to be trusted as Panamanians lose faith in their government. One thing is clear... the monetization of re-elected government officials harbors a power struggle for control for self-enrichment and impunity, all the indications of massive corruption and on a global scale.

12 days ago
George Klk

Panama: Wonderful Words of Cortizo's Unconstitutional Advisors. Panama president Cortizo, the puppet with the untouchables. Cortizo who ignores the plight of Panamanians except for... herding! Now, has a script for an embarrassing situation of total catastrophic consequences for what? Panama's reputation without the definitive source... his government! Nothing more than hypocrisy! Panama people cannot save Cortizo from his own vomit!

13 days ago
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