Welcome to

presentation

Hafiz sohail

Khalid # 37

Hamza Hameed

# 38

Hamza Saleem #

40

Ch.Abdullah # 48

Ali Hussain #

25

Arslan Haider #

31

What is panama?

What is panama papers?What is mossack

fonseca?What is offshore

companies?Is offshore companies are

illegal?Tax haven countries?

Effect on Pakistan economy?

international effect of panama?

• Panama (Country in Central America)

• Panama City (Capital of Panama)

• Panama is a country in central America situated in between South and North America.• Panama city is capital of

panama

 .

Jürgen MossackRamón Fonseca

Owner of the company

Established in 1977

It is law firm.

More than 40 Offices world wide

It has More than 500 Employees

It helps to clients to open offshore accounts.

It specializes in commercial law, trust services, investor advisory, and international business structures

What is offshore company?• A Company which is established outside

the country is called offshore company.

• Reduced administration • Requires little information when doing

business.• Minimum taxes.• Lower capital requirement• Multi - currency bank account• Confidentiality

Benefit of offshore companies

British Virgin IslandsPanama SwitzerlandBermudaNetherlandsCyprusRwanda

Tax haven

How much money is there in offshore tax havens?

• Estimated at least

$7.6

TRILLION

That's upward of 8% of the worlds financial wealth.

Health care

Education

Infrastructure

Economy etc……

This Money can be use in

Are offshore accounts are illegle?• No , these accounts are not illegal

• Tax evasion• Money laundering• Corruption

However ,these accounts for often used

Effects of panama papers on Pakistan?

As more than 400 Pakistani including politicians ,judges , actors ,Business mans ,military officers and media personals.

Prime minister sons name exposed by these papers.

Nawaz sharif address the nation and promised free inquiry

So opposition is asking for inquiry by the chief justices of supreme court or parliamentary committee.

If independent commission is not established then opposition promised to launched another wave of protest against the federal government.

Prime Minister says,If this commission proves the tax

evasion ,corruption or money laundering then he will resigned.

Names which has offshores companies

Son's of prime minister 09 Shebaz sharif family 07 Saifullah family 34Javed pasha 04Benazir Bhutto 01Rahman Malik 01

Effect on Pakistan economy?

• As Pakistan having low economic indicators; terrorism, extremism, severe energy deficit

• For these circumstances people invest their money abroad.

• We have excellent and attractive C-PEC plan (China Pakistan economic corridor ) and this plan needed peace and political stability.

• We should make strong rules against these kids of unethical issues.

• We should develop trust in Pakistani community to invest in their country.

Who has been exposed so far?

Russia PresidentArgentina PresidentUkraine President king of Abu DhabiFormer Empire of Qatar former Sudan PresidentEngland Prime minister

Former prime ministers of

Iraq Italy Jordon George Pakistan

Effect of Panama papers internationally ?

• Ice land Prime Minister Resigned• Ukraine prime Minister Resigned• Spain's Industry Minister resigned• Indian prime minister Order an inquire• England prime Minister under

pressure

Effect on International economy?

• More bank regularity security .• More security by U.S

prosecutors of foreign bank• More regulation/taxation in

general

Mosack fonseca reaction

Ramón Fonseca said the leak was not an "inside job"—the company had been

hacked by servers based abroad. It filed a complaint with the Panamanian

attorney general's office.

In an interview that Jürgen Mossack and Ramón Fonseca gave to

Bloomberg, Mossack said: "The cat's out of the bag, so now we have to deal

with the aftermath."