#PanamaPapers #Montenegro #OffshoreCompanies #TaxHaven
International Consortium of investigative journalists revealed part of the documents related to Panama Papers affair. The documents contain 200,000 names of individuals and companies, including dozens of names from the Balkans.
There are 13 offshore companies related to Montenegro, two of which are active – Wiched Soft (operates in Panama since 2009) and Sannydale Services (registered at the Virgin Islands in 2014). One of these 13 companies – Wiched Doft – was founded by Jane Mrkailo, whereas the rest of them were founded by a former advisor to the government for privatisation, a British lawyer Mark Harrison.
There are 16 Montenegrin citizens and 3 foreigners associated with these companies. Those are Vladan Kovacevic, Dragan Vujacic, Srdjan Stankovic, Darko Perovic, Nikola S. Cetkovic, Ivanka Kilibarda, Milan Komljenovic, Damjan Glusica, Milos Prorokovic, Bozidarka Komljenovic, Mileva Radulovic, Zvonko Vasovic, Filip Vujosevic, Branko Vujosevic, Slobodan Perovic and Aco Mrdak.
In addition to them, Ronald Peter Mortendorfer, Roger Karl and Liu Dan are also connected with those companies.
It is important to say that offshore business itself, establishing offshore companies and formal employment are not illegal.
On the other hand, demands to ban tax havens or at least to make states stop doing business with them are getting louder. Recently, in an interview with Pobjeda newspaper, vice governor Nikola Fabris suggested prohibiting the operation of off-shore companies.
The Panama Papers affair was revealed at the beginning of April when millions of documents leaked from a database of Mossack Fonseca, one of the largest Panama-based law firms and when it was disclosed how wealthy people laundered money. It has been one of the biggest leaks in the history.
Source: Cafe Del Montenegro