Exposé en Anglais Panama Papers

EXPOSE ANGLAIS

The scandal of the panama papers and its impact

Intro: Hello everybody, welcome to my presentation! Today I would like to talk about something which marked the news this year. An event which made a real boom on the news!

My subject today is the Panama Papers. So, what are the impacts of the panama papers?

Firstly, I’m going to talk about the scandal of the panama papers.

Secondly, the impact on the global markets.

Thirdly, the degrading image of the celebrities and politicians.

 Now, I would like to show you the scandal of the panama papers:

1. The scandal of the panama papers

1. What are the panama papers?

In early April, 2016, the International Consortium of Journalists leaked a wealth of sensitive documents known as the Panama Papers. The leak consisted of 2.6 terabytes of data from the Panamanian law firm Mossack Fonseca, and linked 140 world leaders from more than 50 companies to secret offshore accounts in 21 different tax havens

1. Who is Mossack Fonseca

Mossack Fonseca is a law firm based in Panama. Founded in 1977, it is the world’s fourth biggest provider of offshore services and acts for about 300,000 companies. Itemploys 600 staff in 42 countries. Its offices are located in the world’s leading secrecy jurisdictions – Jersey, Cyprus, Luxembourg, the Swiss canton of Zug.

1. The mechanism of the tax evasion

To resume, if you are a rich man and you want to hide your money to don’t pay taxes, you should create an offshore company in a tax haven, a country where the tax rate is very low. After, you create an account in this country where you place your money. You work with banks or firm like Mossack Fonseca which make you anonymous and the tax system cannot find you. This is illegal because you don’t declare this money on your own country.

1. The impact on the global market

1. Greater international cooperation

• From 2017/2018, the automatic exchange of information will be generalized. Countries which are victims of tax evasion like UK or France want to force the transparency of information with the tax havens to make easier for the tax system to find the fraudsters.

1. Re-registration of panama on the blacklist

• Panama was removed from the blacklist, this state wasn’t the first preoccupation of the tax system and because it signs a contract of transparency but it doesn’t respect it
• It will be punished, and it have to pay penalties

1. A tax revenue for countries

• Different states asked for the transmission of the panama leaks
•  Legal proceeding has begun after the inquiries of treasury
• So, the culprits have to repay their own state of living and this is good news for them!
• They also want to change the law tax because the difference between tax evasion which can be legal and tax fraud is not really clear.

1. The degrading image of celebrities, politicians, firms

1. Celebrities

• I’m going to talk about the biggest soccer player in the world: Lionel Messi
• He is accused of creating an offshore society in Panama with his dad, “Mega star society”. The image of Messi was degrading at this moment. People saw him like a thief. We can in this image the fans of Lionel Messi defending him.

1.  Politicians

• Sigmundur David Gunnlaugsson, the prime minister of Iceland detained with his wife an offshore society in the British Virgin Islands
• The prime minister was forced to resign from his functions. Thousands of people protesting outside the parliament in Reykjavik

Conclusion:

Finally, I would like to say a few words on this scandal and its impact: tax evasion is a real problem for countries which have a high tax rate and they lose a lot of money because of that. Besides, the Panama Papers leaks shows the importance of the tax evasion.

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