Panama Papers: Mossack Fonseca leak reveals elite’s tax havens


Panama Papers

A huge leak of confidential documents has revealed how the rich and powerful use tax havens to hide their wealth.

Eleven million documents were leaked from one of the world’s most secretive companies, Panamanian law firm Mossack Fonseca.

They show how Mossack Fonseca has helped clients launder money, dodge sanctions and avoid tax.

The company says it has operated beyond reproach for 40 years and has never been charged with criminal wrong-doing.

French President Francois Hollande hailed the “good revelations” which would “increase tax revenues from those who commit fraud”.

The documents show 12 current or former heads of state and at least 60

... read more at: http://www.bbc.com/news/world-35918844

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