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Tax Haven

Quote of the week: Ramón Fonseca

Sina Odugbemi's picture

“We are not afraid — we haven’t done anything bad. I always sleep well at night. My conscience is clear.”

- Ramón Fonseca, a Panamanian novelist and lawyer. He is a co-founder of Mossack Fonseca, a law firm based in Panama with more than 40 offices worldwide that specialises in setting up offshore companies in tax havens. He was president of the Panameñista Party until he was dismissed in March 2016, due to the Brazilian Operation Car Wash (Operação Lava Jato). In early 2015, more than 11.5 million documents, including emails, bank records and client information dating back several decades, were leaked from Mossack Fonseca. On April 3, 2016, the first news reports based on the papers, and 149 of the documents themselves, were published. These documents have come to be known as the "Panama Papers", and have provided an unprecedented insight into the use of offshore financial centres by the rich and powerful. They show how wealthy individuals, including public officials, hide their money from public scrutiny.

Reformers vs. Lobbyists: Where have We Got to on Tackling Corporate Tax Dodging?

Duncan Green's picture

The rhythm of NGO advocacy and campaigning sometimes makes it particularly hard to work on complicated issues, involving drawn-out negotiations where bad guys have more resources and staying power than we do. Campaigns on trade, climate change, debt relief etc often follow a similar trajectory – a big NGO splash as a new issue breaks, then activists realize they need to go back to school (I remember getting briefings on bond contracts during the 1998 Asia financial crisis) or employ new kinds of specialists who can talk the new talk. And then for a while we get geeky, entering into the detail of international negotiations, debating with lobbyists and academics. When it works (as in the debt campaign), we contribute to remarkable victories or to stopping bad stuff happening (which I would argue was a big civil society contribution at the WTO).