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| The Latest: France to put Panama back on list of tax havens | |
| (35 minutes later) | |
| BERLIN — The Latest on the publication by a coalition of media outlets of an investigation into offshore financial dealings by the rich and famous (all times local): | BERLIN — The Latest on the publication by a coalition of media outlets of an investigation into offshore financial dealings by the rich and famous (all times local): |
| 5:40 p.m. | |
| French Finance Minister Michel Sapin says his country will put Panama back on its list of tax havens. | |
| France had withdrawn Panama from its list of “uncooperative countries” in 2012 following the signature of a convention on the fight against tax evasion between the two countries. | |
| Sapin, speaking to lawmakers at France’s lower house of parliament, says Panama tried “to make us believe it was able to respect the key international principles.” | |
| France’s list of tax havens currently includes six states: Brunei, Guatemala, Marshall islands, Nauru, Niue and Botswana. It allows tax administration to apply specific stringent measures on financial transactions with these countries. | |
| ___ | |
| 5:35 p.m. | |
| The chairman of Hungary’s opposition Socialist Party says a former lawmaker and party treasurer has admitted that reports about an offshore company owned by his wife are “completely true.” | |
| Jozsef Tobias says that Laszlo Boldvai, who was a parliamentary deputy from 1994 to 2014, told him Tuesday that he is willing to face any inquiry and has suspended his party membership. Boldvai was also party treasurer for the Socialists in 1994-1998. | |
| According to information published by Hungary’s Direkt36.hu investigative journalism center, Boldvai’s wife, a high school teacher, has owned a company registered in Samoa since 2012. | |
| Years ago, Boldvai’s personal finances were the subject of articles in several newspapers as he and his family seemed to be living beyond their means. Still, in 2009, a parliamentary commission chaired by another Socialist Party deputy decided not to investigate the allegations. | |
| ___ | |
| 5:05 p.m. | 5:05 p.m. |
| Romania’s national tax authority has set up a working group to examine the data published by investigative journalists on offshore accounts and firms held by Romanians. | Romania’s national tax authority has set up a working group to examine the data published by investigative journalists on offshore accounts and firms held by Romanians. |
| The National Agency of Fiscal Management said Tuesday anti-fraud inspectors, tax inspectors and inspectors specialized in checking people’s assets and financial information would be part of the interdepartmental group. | The National Agency of Fiscal Management said Tuesday anti-fraud inspectors, tax inspectors and inspectors specialized in checking people’s assets and financial information would be part of the interdepartmental group. |
| Funds have been made available for the group to probe information about companies, business people and correlate it with existing data about foreign and domestic bank accounts, shares and transactions. | Funds have been made available for the group to probe information about companies, business people and correlate it with existing data about foreign and domestic bank accounts, shares and transactions. |
| Paul Radu, who heads the RISE Project, a group of investigative journalists publishing details about Romanians who have offshore companies, says there are 100 Romanians in the so-called Panama Papers. | Paul Radu, who heads the RISE Project, a group of investigative journalists publishing details about Romanians who have offshore companies, says there are 100 Romanians in the so-called Panama Papers. |
| ___ | ___ |
| 3:30 p.m. | 3:30 p.m. |
| Spain’s acting deputy prime minister says her country’s investigation into offshore companies created for luminaries like soccer great Lionel Messi and movie director Pedro Almodovar will focus on whether the companies held money and if it was declared in Spain. | Spain’s acting deputy prime minister says her country’s investigation into offshore companies created for luminaries like soccer great Lionel Messi and movie director Pedro Almodovar will focus on whether the companies held money and if it was declared in Spain. |
| Soraya Saenz de Santamaria told the Telecinco broadcaster in an interview Tuesday that Panama’s government appears inclined to cooperate with Spanish authorities probing the companies in various tax havens created by Panamanian law firm Mossack Fonseca. | Soraya Saenz de Santamaria told the Telecinco broadcaster in an interview Tuesday that Panama’s government appears inclined to cooperate with Spanish authorities probing the companies in various tax havens created by Panamanian law firm Mossack Fonseca. |
| Spain since 2012 has required taxpayers to declare their holdings abroad. She says Spain will “trace the money and relationships with third parties.” | Spain since 2012 has required taxpayers to declare their holdings abroad. She says Spain will “trace the money and relationships with third parties.” |
| Messi has denied wrongdoing and Almodovar’s brother says the company for them was dissolved a few years after it opened in the 1990s. | Messi has denied wrongdoing and Almodovar’s brother says the company for them was dissolved a few years after it opened in the 1990s. |
| Other Spaniards named in the massive document leak from the law firm include a sister of former King Juan Carlos and a son of a former longtime Catalonia regional leader. | Other Spaniards named in the massive document leak from the law firm include a sister of former King Juan Carlos and a son of a former longtime Catalonia regional leader. |
| ___ | ___ |
| 2:45 p.m. | 2:45 p.m. |
| A digital forensics expert who helped journalists parse the massive trove of offshore finance documents from a Panamanian law firm says it took weeks to process the leaked information. | A digital forensics expert who helped journalists parse the massive trove of offshore finance documents from a Panamanian law firm says it took weeks to process the leaked information. |
| Carl Barron, a consultant with Australian data investigation firm Nuix, says his company has been collaborating with the International Consortium of Investigative Journalists since September on the so-called Panama Papers investigation. | Carl Barron, a consultant with Australian data investigation firm Nuix, says his company has been collaborating with the International Consortium of Investigative Journalists since September on the so-called Panama Papers investigation. |
| He told The Associated Press in a telephone interview: “We worked with them as a partner but we didn’t actually see the documents.” | He told The Associated Press in a telephone interview: “We worked with them as a partner but we didn’t actually see the documents.” |
| Barron said it took roughly two weeks for the company’s software to make the 2.6 terabyte stash of information searchable and several additional weeks to process hard-to-parse documents such as photos and faxes. | Barron said it took roughly two weeks for the company’s software to make the 2.6 terabyte stash of information searchable and several additional weeks to process hard-to-parse documents such as photos and faxes. |
| Deduplication — the process of removing redundant data such as copies of the same email chain — slimmed the final cache by 30 percent. | Deduplication — the process of removing redundant data such as copies of the same email chain — slimmed the final cache by 30 percent. |
| He said that “if they had done it by hand it would have been impossible.” | He said that “if they had done it by hand it would have been impossible.” |
| ___ | ___ |
| 2:35 p.m. | 2:35 p.m. |
| Slovenia’s finance ministry has called for greater international sharing of data to tackle the kind of tax fraud allegedly revealed by the data leaked by a Panama-based law firm. | Slovenia’s finance ministry has called for greater international sharing of data to tackle the kind of tax fraud allegedly revealed by the data leaked by a Panama-based law firm. |
| The ministry said Slovenia was active in tackling tax havens by investigating hundreds of suspected cases of tax evasion. It says an additional 24 million of euros was collected between 2011 and 2015 as a result of probes into suspected transactions. | The ministry said Slovenia was active in tackling tax havens by investigating hundreds of suspected cases of tax evasion. It says an additional 24 million of euros was collected between 2011 and 2015 as a result of probes into suspected transactions. |
| Slovenia’s Delo newspaper says that according to leaked documents it analyzed, at least 78 Slovenian companies and 74 Slovenian individuals are reportedly associated with offshore companies set up through the Panama-based Mossack Fonseca law firm. | Slovenia’s Delo newspaper says that according to leaked documents it analyzed, at least 78 Slovenian companies and 74 Slovenian individuals are reportedly associated with offshore companies set up through the Panama-based Mossack Fonseca law firm. |
| The newspaper says that Slovenia’s most prominent boxer Dejan Zavec is among those named in the leaked documents. He has said he has done nothing wrong. | The newspaper says that Slovenia’s most prominent boxer Dejan Zavec is among those named in the leaked documents. He has said he has done nothing wrong. |
| ___ | ___ |
| 2:30 p.m. | 2:30 p.m. |
| President Vladimir Putin’s spokesman says the Russian leader has no connection whatsoever to offshore accounts allegedly owned by his close friend, a Russian musician. | President Vladimir Putin’s spokesman says the Russian leader has no connection whatsoever to offshore accounts allegedly owned by his close friend, a Russian musician. |
| Dmitry Peskov says the leaked documents from a Panama-based firm have been wilfully interpreted by an international consortium of investigative journalists to make what he called an unfounded claim that cellist Sergei Roldugin’s offshore assets were linked to the Russian president. | Dmitry Peskov says the leaked documents from a Panama-based firm have been wilfully interpreted by an international consortium of investigative journalists to make what he called an unfounded claim that cellist Sergei Roldugin’s offshore assets were linked to the Russian president. |
| Peskov, speaking to The Associated Press Tuesday, emphasized that “there is not a word about President Putin in those papers,” and dismissed the alleged link between Russian owners of offshore assets and Putin as a “product of imagination.” | Peskov, speaking to The Associated Press Tuesday, emphasized that “there is not a word about President Putin in those papers,” and dismissed the alleged link between Russian owners of offshore assets and Putin as a “product of imagination.” |
| He said the scandal around the so-called Panama Papers has proven that Putin was right when he urged Russian businesses to pull out their assets from offshores. | He said the scandal around the so-called Panama Papers has proven that Putin was right when he urged Russian businesses to pull out their assets from offshores. |
| ___ | ___ |
| 2:20 p.m. | 2:20 p.m. |
| British opposition leader Jeremy Corbyn has called for an independent investigation into the tax affairs of people and companies accused of wrongdoing in the leak of the Panama Papers. | British opposition leader Jeremy Corbyn has called for an independent investigation into the tax affairs of people and companies accused of wrongdoing in the leak of the Panama Papers. |
| Labour leader Corbyn said Tuesday the investigation should include a look at the finances of Prime Minister David Cameron and his family. | Labour leader Corbyn said Tuesday the investigation should include a look at the finances of Prime Minister David Cameron and his family. |
| Corbyn spoke after the British press published extensive stories about Cameron’s late father setting up an offshore account at a tax haven. | Corbyn spoke after the British press published extensive stories about Cameron’s late father setting up an offshore account at a tax haven. |
| He told reporters: “I think the prime minister, in his own interest, should tell us exactly what’s been going on.” | He told reporters: “I think the prime minister, in his own interest, should tell us exactly what’s been going on.” |
| The information about Cameron’s father was first published several years ago. | The information about Cameron’s father was first published several years ago. |
| Corbyn said the government should stop “pussyfooting” around and deal aggressively with tax havens. | Corbyn said the government should stop “pussyfooting” around and deal aggressively with tax havens. |
| ___ | ___ |
| 1:45 p.m. | 1:45 p.m. |
| A known soccer player, a fashion designer whose dresses are worn by first lady Michelle Obama and 16 other mostly business figures are on a list of prominent Serbs who used the services of law firm Mossack Fonseca to create offshore companies in various tax havens. | A known soccer player, a fashion designer whose dresses are worn by first lady Michelle Obama and 16 other mostly business figures are on a list of prominent Serbs who used the services of law firm Mossack Fonseca to create offshore companies in various tax havens. |
| The Belgrade-based KRIK network investigating crime and corruption, which issued the list on Tuesday after going through documents leaked from the Panama-based law firm, says Darko Kovacevic had officially earned about $2,000 a month while playing for Spanish club Real Sociedad during the 2006-2007 season. | The Belgrade-based KRIK network investigating crime and corruption, which issued the list on Tuesday after going through documents leaked from the Panama-based law firm, says Darko Kovacevic had officially earned about $2,000 a month while playing for Spanish club Real Sociedad during the 2006-2007 season. |
| The leaked documents, however, show the club had paid Kovacevic $1.4 million that season to his offshore account. That means that both the club and Kovacevic had avoided paying full taxes in Spain, KRIK says. | The leaked documents, however, show the club had paid Kovacevic $1.4 million that season to his offshore account. That means that both the club and Kovacevic had avoided paying full taxes in Spain, KRIK says. |
| Fashion designer Roksanda Ilincic had a firm in British Virgin Islands, KRIK says, adding that the ownership of a shell company is not a crime, but that it can be used for money laundering or evading taxes. | Fashion designer Roksanda Ilincic had a firm in British Virgin Islands, KRIK says, adding that the ownership of a shell company is not a crime, but that it can be used for money laundering or evading taxes. |
| ___ | ___ |
| 1:15 p.m. | 1:15 p.m. |
| Iceland Prime Minister Sigmundur David Gunnlaugsson is defying calls for his resignation as opponents plan a second day of mass protests outside the island nation’s parliament building. | Iceland Prime Minister Sigmundur David Gunnlaugsson is defying calls for his resignation as opponents plan a second day of mass protests outside the island nation’s parliament building. |
| The prime minister and his wife have been linked to an offshore company that may represent a severe conflict of interest with his official role. | The prime minister and his wife have been linked to an offshore company that may represent a severe conflict of interest with his official role. |
| A wide array of opposition groups are planning protests Tuesday evening seeking new elections. | A wide array of opposition groups are planning protests Tuesday evening seeking new elections. |
| Parliament was not in session but deliberations on the crisis are expected to resume later this week. | Parliament was not in session but deliberations on the crisis are expected to resume later this week. |
| News reports have alleged that Gunnlaugsson and his wife set up a company in the British Virgin Islands with the help of a Panamanian law firm at the center of a massive tax evasion leak. He denies doing anything illegal and says all taxes were paid. | News reports have alleged that Gunnlaugsson and his wife set up a company in the British Virgin Islands with the help of a Panamanian law firm at the center of a massive tax evasion leak. He denies doing anything illegal and says all taxes were paid. |
| ___ | ___ |
| 11:50 a.m. | 11:50 a.m. |
| Germany’s justice minister is proposing setting up a national “transparency register” that would list the real beneficiaries of letter-box companies — but only those set up in the country itself. | Germany’s justice minister is proposing setting up a national “transparency register” that would list the real beneficiaries of letter-box companies — but only those set up in the country itself. |
| Heiko Maas’ proposal Tuesday to expand national money-laundering legislation followed a massive leak of documents from a Panama-based law firm. German daily Sueddeutsche Zeitung reported Tuesday that 28 German banks used the company’s services to set up or administer over 1,200 shell companies. | Heiko Maas’ proposal Tuesday to expand national money-laundering legislation followed a massive leak of documents from a Panama-based law firm. German daily Sueddeutsche Zeitung reported Tuesday that 28 German banks used the company’s services to set up or administer over 1,200 shell companies. |
| Maas conceded that German legislation could only apply to companies set up in Germany, which has pushed for tax havens to open up. He said: “Those who are pushing for this at the international level have to have corresponding national rules themselves.” | Maas conceded that German legislation could only apply to companies set up in Germany, which has pushed for tax havens to open up. He said: “Those who are pushing for this at the international level have to have corresponding national rules themselves.” |
| Maas added: “I can imagine many countries considering this.” | Maas added: “I can imagine many countries considering this.” |
| Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. | Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |