Friday, October 18, 2019

Panama Papers Include Nearly 500 Dominican Companies

By on May 10, 2016

SANTO DOMINGO, Dominican Republic – The Washington-based International Consortium of Investigative Journalists (ICIJ) has published data related to the so-called Panama Papers, which includes 486 offshore entities with origins in the Dominican Republic.

The data published by the ICIJ includes the addresses of people and companies from more than 200 countries, representing what the ICIJ calls is “the largest ever release of information about offshore companies and the people behind them.” The ICIJ has led the investigation alongside the German daily Süddeutsche Zeitung.

Singer-songwriter Juan Luis Guerra (Photo by Astrid Stawiarz/Getty Images for SiriusXM)

Singer-songwriter Juan Luis Guerra (Photo by Astrid Stawiarz/Getty Images for SiriusXM)

World famous singer Juan Luis Guerra is featured among them. The offshore entities of Dominican origin include 268 official, 67 intermediaries and 157 addresses, and include references to entrepreneurs and political figures from the Caribbean nation. Attorneys represent most of the companies.

In a brief statement,Guerra’s manager, Amarilys Germán, stated, “The Mango Team Inc. enterprise was created for bookings abroad and to limit risks. Both Juan Luis and his enterprises comply with the law and with the payment of taxes.”

The Panama Papers include the names of more than 200,000 companies, foundations and funds that are part of an ongoing investigation. The ICIJ states that “there are legitimate uses for offshore companies” and that it is not attempting to “suggest or imply that any persons, companies or other entities included in the ICIJ Offshore Leaks Database have broken the law or otherwise acted improperly.” The information is available to the public through the https://offshoreleaks.icij.org/ website.

The scandal involves more than 11.5 million documents from the Mossack Fonseca law offices, which specializes in capital management in so-called tax havens. The companies, foundations and funds included in the data are based in 21 of these tax havens, from Hong Kong and the British Virgin Islands to the state of Nevada in the U.S.  

Inter News Service

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