Tax take from ‘Panama Papers’ probes exceeds $1.2 billion

Tax authorities in 22 countries worldwide have been able to retrieve in more than $1.2bn in back taxes and fines following the 2016 “Panama Papers” leak of information about offshore dealings.

Britain has recouped some $253m, France $136m and Australia $93m, the International Consortium of Investigative Journalists (ICIJ) posted on its website.

German newspaper Sueddeutsche Zeitung — which received the massive leak of documents from Panamanian law firm Mossack Fonseca on which the investigation was based — reported Berlin has reaped $183m from related tax probes.

“While recouping the proceeds of hidden assets helps to fund vital government services, there is a growing sentiment that the enduring legacy of the Panama Papers will be its effect on behaviour and public attitudes,” the ICIJ said.

On the third anniversary of the International Consortium of Investigative Journalists-led investigation the fallout from it is gathering pace through hundreds

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