• Mon. Oct 3rd, 2022

Chamber Open Offshore In Tax Haven Country For Development

BySam Brad

Nov 23, 2021

The existence of an offshore minister Paulo Guedes in the British Virgin Islands was revealed by the International Consortium of Investigative Journalists The minister has investments of US 9 million in the company and may have earned more than R 16 million from the devaluation of the real against the dollar during the government of President.

Guedes denied that he had profited or that he had hidden that his daughter was in charge of offshore According to him in the Confidential Information Declaration DCI required by the government he was asked if there was any conflict of interest between the related activities of his ministry and any relative The answer is a thousand times no If you have recourse abroad your hand here does not reach he pointed out According to him any conflicts were eliminated before taking over the portfolio when he gave up his investments.

The minister said that he sent funds abroad only once in 2015 and never moved the money again An offshore is a succession problem When the company was created in 2014 the money went there and there was never any withdrawal to Brazil There were no more deposits or remittances Ah he speculated dollar rising falling Forget it it doesnt exist Its a resource that was and is part of the family succession Theres no withdrawal deposit nothing like that 100 legal declared in the Revenue every year he justified.

The minister also said that offshore is a tool Its like a knife you can use it for bad to kill someone or for good to peel an orange he explained noting that the offshore company he owns abroad is declared with the Federal Revenue and the Central Bank.

One of the most questioning points of the deputies in relation to the offshore Guedes is the fact that with the increase of the dollar the company in a tax haven is valued while the internal situation in Brazil gets worse As the economy minister he is responsible for economic policy and Guedes has stated more than once that a high dollar is good.

Determining the interest rate is up to the Central Bank And no one fought more for an independent Central Bank than this government If I were a person who wanted to manipulate the exchange rate I would have the Central Bank under my command I would have one made one thing another he said.

The minister pointed out that he asked for a survey on the moments in which the biggest changes in the dollar were identified in the current government According to him at all times the exchange rate change took place for political reasons not economic ones There were 27 occasions none in the Economy It was always because of Covid or news like Sergio Moro leaves government expresident Michel Temer is arrested It was just politics or illness he added.

Sam Brad

The Great Writer and The Passionate Poet As Well, He Graduated from University Of Florida in Journalism and Brad have around 12 years of experience in news and media section.

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