The leak of 11.5 million documents from one of the world’s most secret companies, Panamanian law firm Mossack Fonseca, has grabbed headlines around the world. So what have we actually learned from the Panama Papers?
1. It does what it says on the tin
A tax haven is a tax haven. This may sound simple but, although there were always lots of accusations that so-called Offshore Financial Centres were little more than places where the rich, corrupt and criminal could hide their ill-gotten gains, the proof was not always there.
The countries themselves talk about their “specialist financial expertise” and “tax planning” abilities, while their critics say that this was being used as a front for crime on a massive scale. The sheer size of the release of documents from Mossack Fonseca has enabled us all to see numerous examples
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