Some 400 reporters from 67 countries have scoured 13.4 million secret documents and uncovered tax-evasion techniques used by the super rich and high-ranking politicians, German media reported on Sunday.
The killing of Maltese journalist Daphne Caruana Galizia sent shockwaves across Europe a day after her car exploded near her home, prompting the European Commission to condemn it in the “strongest possible terms”.
The offices of Mossack Fonseca, the law firm at the centre of the Panama Papers leak, were raided on 9 February as part of an ongoing investigation into Brazil's biggest corruption scandal, the so called Operation Carwash (Lava Jato in Portuguese) involving the state-run oil company Petrobras.
Panama opened the long-delayed US$5.4 billion expansion of its shipping canal amid cheering crowds on Sunday, despite looming economic uncertainty in the shipping industry and a heated battle over billions in cost overruns.
Thursday’s world summit on fighting corruption was a time for Britain and the United States to look at their own policies and their role as shelters for billions of dollars stolen by corrupt politicians in developing countries.
Argentine Federal Judge Sebastian Casanello has sent legal requests to Uruguay, United Kingdom, Ireland, Panama and Brazil, and likewise ordered local financial institutions in the country to provide data on the Macri family accounts as part of an ongoing investigation of the Argentine president overseas assets in so called tax havens, which emerged from the latest release of Panama Papers by the International Consortium of Investigative Journalists.
New global rules forcing companies to report taxable activities country-by-country publicly have been called for by a group of 300 prominent economists. In a letter to world leaders, the group urges the UK to “take a lead” in the push for more tax transparency and argues that poor countries are the biggest losers from tax havens.
The International Monetary Fund and the World Bank are joining forces with other international organizations to cooperate on tax issues and develop new tools and standards to halt tax base erosion and evasion.
Argentine ex president Cristina Fernández addressed thousands of militants that rallied outside Buenos Aires City main courthouse building where earlier in the day she testifies on the dollar future probe conducted by a Federal Judge.
By Juan Carlos Varela (*) - The following was published by The New York Times in The Opinion Pages. DESPITE their name, the Panama Papers are not mainly about Panama. They are not even primarily concerned with Panamanian companies. The more than 11 million documents, illegally hacked and released last week relating to previously undisclosed “offshore” corporations, is roiling the world with revelations of the vulnerability for rampant abuse of legal financial structures by the wealthy.