PLMJ partner Hugo Rosa Ferreira writes opinion article on the controversy surrounding tax havens for Negócios


Hugo Rosa Ferreira, the partner who heads PLMJ Banking and Finance, has written an opinion article for the newspaper Negócios. The article addresses the current controversy surrounding undisclosed transfers to tax havens and looks into the responsibilities of the Government in these cases. The article also considers the obligations of banks to pass information to the Tax Authority and the concerns of that Authority in investigation processes. Rosa Fereira says "… from a legal point of view, it is wrong to argue that the disclosure of the names of banks from which these transfers to tax havens have been made is a violation of banking secrecy. The purpose of banking secrecy is to protect the clients and not the banks."

Read the article (in Portuguese) here.

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