The Mossack Fonseca law firm, at the center of the Panama Papers storm, says its document backdating for high net worth clients setting up offshore shells is not intended “to cover up or hide unlawful acts.” Backdating is back.
The “Panama Papers”, published Sunday by a coordinated group of international media outlets, tell stories off offshore tax avoidance and potential official corruption based on thousands of internal documents from Panamanian law firm Mossack Fonseca.
The purpose may be tax avoidance or the cash and assets may be the result of illegal activities such as payoffs to government officials, illegal drug sales and arms trafficking.
Backdating can involve assigning an event “to a date prior to that of actual occurrence” or dating a document “to reflect an event that occurred prior to execution.” The propriety of backdating, says law professor Jeffrey L.
Family allowances were introduced in 1946, with the first payments being made on 6 August.
In this case, the TIF arrangement would allow a private developer to use city funds in demolishing buildings on the National Register of Historic Places.
Eau Claire’s City Council adopted TIF resolutions to fund demolition and redevelopment, concluding the riverfront areas at issue were “blighted.” Under Wis. section 66.1105(2)(f)1.a., municipalities can use TIF to fund redevelopments if the city finds that at least 50 percent of real property designated for TIF is “blighted area” in need of rehabilitation or conservation.
Eugene Isenberg is the little-known chief executive of a modest-sized oil-services company in Houston.
But he stands out in one way: He is among the highest-paid corporate executives in history.