"Public Chamber": how to return the stolen $ 48 billion?

In connection with the report of an international monitoring organization Tax Justice Network (TJN - Network of fair taxes), which reveal illegal transference of $48 billion from Azerbaijan to offshore zones, the Public Chamber held a public debate.

The report, entitled "The Price of Offshore Revisited" was released last week. On Tuesday, "Public Chamber" discussed ways of returning to the country the $48 billion dollars.

"First the foreign media reported about the purchase by a 14-year-old son of President of Azerbaijan nine villas in Dubai, worth $75 million dollars. Then the media wrote about the transfer of the gold deposit “Chovdar” to the companies belonging to the ruling family.

Now transference of $48 billion to the offshore companies has been reflected in the report of the authoritative international structures, taking into account that the ruling family controls numerous banks, real estate, and profitable businesses. Thus, we are talking about an amount exceeding 48 billion," said the head of the Popular Front Party, Ali Kerimli.

According to his calculations, if you divide $ 48 billion among the population of Azerbaijan, there will be   $ 5,300 for every   citizen. If this sum is divided by the number of families, then it comes out that the government "robbed" every family by $20,000.

According to the economist Gubad Ibadoglu, Tax Justice Network is very conservative, and in reality, much more was transferred to the offshore companies. "The report includes funds transferred only through banks. The report does not include funds transferred to offshore accounts in Islamic countries, purchased overseas real estate and other property. In this regard, the amount stolen from the Azerbaijani people is by many times greater than $48 billion," said Ibadoglu.

 "In the transference form the country participated actively the banks, tax, customs, authorities and other agencies. In normal countries, all this must be investigated, and the heads of responsible agencies should resign,” believes Ibadoglu.

The experts also pointed out that against the backdrop of huge funds taken out of the country, Azerbaijan has no official millionaire.

During the meeting it was demanded to request a report from the Financial Monitoring Service, established two years ago. In particular, this service should start a campaign for the declaration of income and assets.

 "Public Chamber" also considers it necessary Azerbaijan’s joining the Warsaw Convention to combat money laundering.

General  of Justice, retired Vidadi Mirkamal, noticed that after the detection of these facts, the government adopted amendments to the legislation, which keeps in secret  the  information about the owners of companies.

A member of the "Public Chamber" Mirfeyzulla Seyfi indicated that it is necessary to think how to return to the country illegally exported funds.

Human rights activist Mirvari Gahramanly drew attention to the lack of information about the owners of 26 companies involved in the contract to develop oil fields in Azerbaijan.

Panelists found it necessary to inform the public about the funds taken out of the country. "If   a citizen’s car is scratched or torn clothes, he is ready to fight for it. However, the ruling elite stoles money that is much more than a car and no one speaks about it. Therefore, it is necessary to conduct enlightenment among the population," said the former prisoner of conscience, Sahib Kerimov.—03C06-