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Quite something ... the wealthiest and top corporate leaders listening to the same tax consultant. Resign now!

De Swaan immediately divested the investment and apologized in an email to his colleagues at ABN Amro on Monday for underestimating the consequences of the tax construction.

De Swaan explains in his published e-mail that he has "invested in the company of a friend, former ABN AMRO colleague Jeroen Harderwijk, out of sincere intentions" and has always declared his investments to the tax authorities. He also writes that "the investment is not for tax avoidance or worse."

According to a spokesperson for ABN, there is 'technically nothing wrong' with the private investment. But the board of the company, which concerns the safari park project Asilia in East Africa, could have 'opted for a foundation in the Netherlands when it was founded', instead of a letterbox company in the British Virgin Islands.

De Swaan says that he will donate the investment to the founders of Asilia, so that it is once more clear what the intention of this investment was.

Up until his appointment as minister in October 2017, outgoing Minister of Finance Wopke Hoekstra was also co-owner of the letterbox company. Furthermore, the names of financial directors Maarten Muller, supervisory director at Van Lanschot Kempen, and Alexandra Schaapveld, supervisory director at the French bank Société Générale and, until mid-2020, supervisor at development bank FMO are mentioned.

Tourism Captured by the Poor - Evaluation of Aid Investments in the Tourism Sector of Kenya's ASALs

    In the last ten years, despite the increasing focus on tourism and poverty reduction, there have been very few reported interventions where any attempt has been made to measure beneficiary impact (Goodwin, 2007, p. 74)
by Oui on Mon Oct 4th, 2021 at 01:36:08 PM EST

Finance Minister Wopke Hoekstra in a conflict of interest | Dutch News |

"Unbelievable", says Leen Paape, professor of corporate governance at Nyenrode University, in the newspaper. "You can't hide in that position behind: I haven't read it. These people know better."

And that certainly applies to investors with top positions in the Dutch financial sector. "It's clear and obvious: if you have an interest in a tax haven and you have to decide on the bank's policy on tax havens, then there is the (appearance of) a conflict of interest," said Leo Huberts, emeritus professor of public administration. FD.

'The British Virgin Islands have an aura of tax avoidance,' Leen Paape, professor of corporate governance at Nyenrode business university in Breukelen, told the FD. 'Even if it's allowed, it's not desirable. This is primarily about what is socially acceptable.'

by Oui on Mon Oct 4th, 2021 at 06:29:12 PM EST
[ Parent ]
Geez Wopke ... don't like Dutch taxes? Income and McKinsey stocks superfluous and need help from Guernsey tax haven. Just stay away, you are serving your good friends and haven't got a notion of living and income viability of the vast majority of the Dutch, building the economy and paying their share of taxes. You are a loser ... call yourself a Christian Democrat? You love the British sunny islands in the Caribbean and offshore from the UK. Please remove yourself from the pleasant surroundings of The Netherlands ... you do not intend to pay your fair share.

Wopke Hoekstra's pension entitlement has also gone through a tax haven

Hoekstra stated that he made a full disclosure of his portfolio of assets, prior to taking office as Finance Minister in 2017. He listed in the House of Representatives the assets he was involved in at the time.

Sold

This includes his owner-occupied home, his stock he had to buy as a partner in McKinsey, and his supplemental pension for the same company through a Guernsey investment fund. Hoekstra says he chose to provide the pension because his employer offered it at the time. He asserts that 30,000 ex-colleagues worldwide use it. Partners in McKinsey are not allowed to invest in publicly traded companies themselves, "specifically to avoid conflicts of interest."

He said he gave up all these things when he took office, except for the family property in Drenthe. He can't sell it to common property and it's run by his uncle.
On Sunday, research by Trouw, Het Financial Dagblad and research platform Investico revealed that Hoekstra has had an interest in letterbox in the BVI for many years.

Guernsey: Tax on pensions

by Oui on Tue Oct 5th, 2021 at 05:16:37 PM EST
[ Parent ]

Wopke Hoekstra should seek a job elsewhere ...

by Oui on Tue Oct 5th, 2021 at 05:17:59 PM EST
[ Parent ]

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