Mossack Fonseca Supports National Reforestation Day

The Mossack Fonseca Group recently planted over 1,000 seedlings in Camino de Cruces National Park as a part of National Reforestation Day and the “Alliance for a Million.”

Panama City, Panama – November 25, 2015 /PressCable/ —

Taking a more proactive approach to the issues associated with global climate change, the Mossack Fonseca Group offered its support for the reforestation efforts adopted by Panama and much of the rest of Central America through its participation in National Reforestation Day. Recognizing the importance of the role trees play in the recovery of degraded soils, the protection of the water supply, the absorption of carbon and the emission of oxygen, the planting of a wide variety of tree species on such a grand scale is a highly beneficial measure for further protecting the environment from the potentially devastating effects of unchecked climate change.

The firm has a long history of environmental consciousness and has frequently participated in projects similar to the reforestation efforts taking place in Panama. In this particular instance, a large contingent represented the Mossfon Family at Camino de Cruces National Park to take part in the “Alliance for a Million” project undertaken by ANCON. In planting over 1,000 young seedlings throughout the park, members of the firm were able to assist ANCON as it seeks to achieve its lofty goal of stimulating the growth of forest and fruit species across 1 million hectares. With a focus on targeting the areas with the most pressing need for regrowth, members of the firm helped to ensure that forest management areas, river banks, natural forest areas and groundwater recharge zones benefited from the immediate attention.

Those participating in National Reforestation Day surely understand the impact that deforestation has had on the world at large, but Central Americans in particular are acutely aware of the consequences that have been wrought throughout the region. Over the last 40 years alone, 40 percent of the rain forests have been cleared or burned, affecting the region’s ecological balance to a significant degree. Deforestation has affected air quality, caused soil instability and endangered the 80 percent of terrestrial life that calls the forest home. Given the pervasive and accelerated nature of climate change, efforts such as the one undertaken by ANCON and the firm are necessary for ensuring future environmental stability.

About the Firm The Mossack Fonseca Group is a firm that provides exceptional legal, trust and investment consultancy to clients across the globe. Founded in 1977, the firm offers comprehensive services across every continent, specializing in international business structures, commercial law, wealth management and trust services.

For more information about us, please visit http://www.mossfon.com

Contact Info:

Name: Mossack Fonseca

Organization: Mossack Fonseca

Address: 54th Street, Marbella, Panama

Phone: 507-205-5888

 

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Mossack Fonseca on Panama: Enters Phase II of the OECD Global Forum Review

At the 8th meeting of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes, held in Barbados on 29-30 October 2015, Panama was officially accepted into Phase 2 of the information exchange peer review process.

The Global Forum peer reviews occur in two Phases: Phase 1 reviews assess the quality of a jurisdiction’s legal and regulatory framework for the exchange of information, while Phase 2 reviews look at the practical implementation of that framework.

Panama’s Foreign Ministry noted that the country’s implementation standards for the exchange of tax information upon request will be assessed, with particular attention to those jurisdictions with which Panama has agreements that allow the exchange of information.

Panama’s Deputy Foreign Minister Luis Miguel Hincapie said “This step reflects the commitment of Panama in this area and the significant progress in updating our legal framework. In a short time we have adapted to the standards of fiscal transparency while at all times defending national interests”. He went on to say that President Juan Carlos Varela, in his recent speech at the General Assembly of the United Nations, announced that Panama, like its major trading partners, is committed to the automatic bilateral exchange of tax information, but with some conditions. The President said the exchanges will have to take into account national circumstances, the international geopolitical environment, and the right of each country to take the necessary measures to ensure that the automatic exchange of information is not misused to impair the competitiveness of some countries for the benefit of others. President Varela proposed that the issues be incorporated into the regular agenda of the United Nations to ensure that they are discussed by the countries on equal terms.

There are now 96 jurisdictions which are committed to making the first exchanges of information in 2017 or 2018. Panama has committed to commence automatic exchanges in 2018.