The Panama Papers leak is being referred to as the biggest leak of financial data ever. Our Firm has started this NEWS PAGE to track the latest news related to the leak. |
April 11, 2016 - China Plans A Single, Chilling Response To The Panama Papers
“Therefore, those in the Party ruling groups…will intensify repressiveness to keep the truths about system corruption revealed by the Panama Papers out of China,” says Edward Friedman, China specialist and professor emeritus at the University of Wisconsin in the United States.
April 11, 2016 - Panama Papers: Are the Rich Wrong to Put their Piggy Banks in Off-Shore Banks?
It should be noted by this point that tax avoidance and tax evasion, despite sounding similar, are two completely different concepts. Tax evasion, as hinted above, is an act that breaches the law by seeking illegal ways to evade the obligation of paying taxes. Examples of tax evasion include not declaring an income or taxable possession, not registering oneself on the taxpayer database, and so on.
April 11, 2016 - David Cameron Will Speed Up Tax-Evasion Rules Following the Panama Papers Leak
Cameron is speeding up plans to make companies criminally liable if their employees help their customers to evade tax, according to an advance copy of a speech scheduled Monday, seen by Reuters.
April 11, 2016 - Panama Papers: HMRC chief was partner at law firm that acted for David Cameron offshore fund
Labour has stepped up demands for an independent inquiry into the Panama Papers leak after it emerged the head of HM Revenue and Customs (HMRC) was previously a partner at a law firm which represented a number of offshore companies - including Blairmore Holdings, the fund set up by David Cameron's father.
April 11, 2016 - Panama Papers reveal details on Chinese offshore dealings
It is not illegal for Chinese citizens to open offshore accounts or own offshore companies, but the Communist Party's constitution bans party officials and family members from profiting from their positions.
April 11, 2016 - Panama Papers show tax avoidance like a 'cancer'
David Cameron, the U.K.'s prime minister, is expected to announce measures to combat tax avoidance on Monday and meanwhile Germany and France's finance ministers have vowed to tighten rules against tax havens.
April 11, 2016 - UK Prime Minister Released Tax Records
April 8, 2016 - The looming mystery behind the Panama Papers: How did the largest document leak in history even happen?
“Hello. This is John Doe. Interested in data?” That line — apparently written in English and using an American cultural reference — is much of what we know about the source, possibly a hacker, behind the Panama Papers, a massive trove of documents on which four hundred journalists have been collaborating for up to a year, detailing how a Panamanian law firm called Mossack Fonseca has helped some of the world’s most powerful people set up shell companies capable of concealing vast amounts of wealth.
April 8, 2016 - American executives' names surface in Panama Papers
The consortium has so far identified more than 200 people with U.S. addresses who own companies in the leaked data from the Panamanian law firm Mossack Fonseca. Some appear to be retirees purchasing real estate in places like Costa Rica and Panama, according to the consortium. But there are at least a few Americans in the leaked files who have faced charges for serious financial crimes in the U.S.
April 8, 2016 - The Latest: Co-founder of ‘Panama Papers’ firm quits council
The German-born lawyer who co-founded the Panamanian-based Mossack Fonseca law firm at the center of the “Panama Papers” uproar has resigned from a council advising the Central American country’s government on foreign policy.
April 8, 2016 - Panama Papers furor claims first bank CEO
The Panama Papers scandal claimed its first banking chief executive Thursday with the resignation of Michael Grahammer, the CEO of Austrian lender Hypo Landesbank Vorarlberg.
April 8, 2016 - Regulator to investigate Swiss banks’ connections to Panama Papers; 1MDB and Petrobras also in spotlight
“The leaked database from Panama is just the latest proof of how money flows like water through multiple jurisdictions, sometimes for legitimate purposes, sometimes not,” Financial Market Supervisory Authority (Finma) director Mark Branson said at a news conference in Bern on Thursday.
April 8, 2016 - The Panama Papers, One Week Later: What We Know, and What We Still Don’t
The repercussions of the biggest-ever data leak continue to reverberate for governments, politicians, celebrities and private individuals
April 8, 2016 - How the US became a top destination for shady assets
“Nevada is a very popular jurisdiction for trusts,” said Peter Cotorceanu, a US tax specialist with Anaford, a Zurich-based law firm advising wealthy clients on international tax issues. “Trusts are often used by people who want anonymity.”
April 8, 2016 - Europe's banks under scrutiny as regulators look into Panama Papers
"Do I think we are where we should be in fighting misuse in the financial system? No," FINMA Chief Executive Mark Branson told Reuters following its annual news conference. "We think in some ways the risks in Switzerland have risen, not fallen, and that there is more that can be done. We don't want to see large scandals involving Swiss banks."