Tax Evasion

The European Parliament’s Panama Papers inquiry began this morning with the committee conducting its first official meeting. During the meeting, the newly set-up inquiry committee elected its chairman, the European People’s Party Group’s Werner Langen (below). The committee is made up of 65 members, inclusive of PN/EPP MEPs Roberta Metsola and David Casa. Former Polish […]

Werner Langen, a German MEP from the centre-right EPP group, has been elected to chair the European Parliament’s Committee of Inquiry into Money Laundering, Tax Avoidance and Tax Evasion (PANA) that will investigate the Panama Papers revelations and tax avoidance schemes more broadly. The vice-chairs chosen were Ana Gomes (social democrat SD group), Pirkko Ruohonen-Lerner […]

New Delhi: Faced with resistance in disclosures by those named in the Panama Papers, the Income Tax department has made foreign references to about a dozen countries in order to obtain actionable evidence against such Indian entities. Officials said a special wing under the Central Board of Direct Taxes has made multiple requests to their counterparts in foreign nations as part […]

In a statement released today, the bank highlighted that Asian nations accounted for over 60% of the estimated $5.6tn that developing countries are thought to have lost to illicit tax flows between 2001-10. It confirmed that it was committed to helping its members adopt best practice in light of recent global developments. Clare Wee, head […]

Panama City, Panama. A recent leak of a trove of documents from Panamanian law firm Mossack Fonseca revealed how the world’s rich and powerful use tax havens to shirk their dues, putting tax avoidance high on the agenda.   The proposals include the creation of public beneficial ownership registers, cross-border information sharing and “robust” laws […]

Panama City, Panama. A recent leak of a trove of documents from Panamanian law firm Mossack Fonseca revealed how the world’s rich and powerful use tax havens to shirk their dues, putting tax avoidance high on the agenda.   The proposals include the creation of public beneficial ownership registers, cross-border information sharing and “robust” laws […]

The kinds of secret offshore companies that have hidden political corruption and tax evasion around the world are often used by Wall Street’s biggest money makers — the $2 trillion hedge fund industry. The now-famous Panama Papers leak offers rare insight into the workings of this exclusive investment club. Hedge funds accept individual investors with […]

Photo/Getty Images/Listener illustration The release of the so-called Panama Papers has generated a flood of media coverage around the world. Opposition parties here raised a clamour of complaint, little of which addressed the real issues; the Government’s response was a co-ordinated wall of noise, equally bereft of meaning. Little wonder, then, that most people hit […]

Labelled one of the biggest leaks of data in the history of journalism, the Panama Papers offer a rare insight into how some of the world’s wealthiest and most powerful individuals use offshore corporate structures and vehicles to allegedly hide assets and avoid taxes. As the revelations place tax avoidance and transparency in the financial […]

The European Parliament named the 65 members of its “Panama Papers” Committee of Inquiry, into tax evasion and money laundering, on Thursday, after approving its remit on 8 June. The committee’s shorthand label will be “PANA”. The full list of members can be found here. The committee will appoint its chair, and up to four […]

INTRODUCTION It has always been difficult to attribute criminal liability to a corporation for the criminal acts of its representatives because of the high burden of proving that the “directing mind and will” of the corporation – in effect, senior management – was involved. However, with the anti-corruption summit in London, David Cameron announced a […]