Almost 2,500 people and firms identified from Panama Papers …

Tax authorities have so far identified some 2,400 individuals and corporations mentioned in the Panama Papers, MPs heard on Thursday.

Of these, 1,300 are individuals and 1,000 legal entities, deputy tax commissioner Soteris Markides informed lawmakers.

Among the names identified, around 700 had not submitted tax returns for years – a number going back to 2005.

Under the law, authorities may request information from taxpayers going back a maximum of 12 years.

That is why tax officials used 2005 as a baseline, Markides explained.

And about 50 persons/corporations did not even have a tax file.

In identifying these individuals and corporations, said Markides, the Tax Department made use of special in-house software, where parameters were inserted based on tangential information appearing in the Panama Papers.

For those who were found to be delinquent on filing tax returns or who lack a tax file altogether, authorities will be contacting them over the next few days requesting compliance.

Moreover, the

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