PanamaPapers – Should this be a public issue?

In Uncategorized by Michael Probst

What is the matter with these papers? Of course, there is need to disclose any abusive use of these companies. But, isn’t it normal to use any potential tool in order to protect privacy? Why are there names published of persons who may not have any reason than privacy to use offshore-vehicles?

Many questions! Still, there is a need to follow-up and to check whether there is abusive use of such a company, or whether there is tax fraud involved. However, these issues would need to be solved by an attorney or the tax authorities and not through the press and left to the semi-informed public acting as the mob to chase the rich.

Indeed, in public and as a headliner in the press it appears obvious, that the use of offshore companies implies a criminal delict or at least a moral or ethical deficiency.

Is this the case, if a person residing in a country without income taxes uses an offshore company? Certainly not. All those who are complaining, would have done something comparable in a corresponding situation (especially those in the mob who cry the loudest).

One of my problems is the eagerness of the press to create headlines on the backbone of VIPs, independent of the fact, whether this is appropriate or not, just like any nude celeb photos taken on closed beaches. This is not journalism for the sake of truth, but pure search for sensations.

By the way: I consider that the best place for the information would have been any attorney’s desk, with a legal prosecution of those who did something wrong, not a public devolution for the sake of a headline and some extra dollars for the journalist.

Any comments?

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