Tax Evasion

Image: Yle Nordea bank has blocked 68 suspicious accounts and said its Luxembourg branch will no longer help customers run offshore structures, following an internal investigation in the wake of revelations in the Panama Papers. The leak of millions of documents from the leading Panama-based law firm Mossack Fonseca in April this year indicated that […]

The controversial Zambian businessman Rajan Mahtani is facing a potential new criminal investigation related to alleged tax evasion activities revealed by the whistleblower leaks of the so-called “Panama Papers” of law firm Mossack Fonseca. According to tipsters based in London, Mahtani was spotted on Thursday, 14 July in Victoria Station on his way back from […]

“Until we see the bill implementing automatic exchange of information there is a concerning lack of clarity about who will be able to access the proposed register of foreign trusts,” said David McLay, a Wellington-based lawyer who specialises in tax law and trust formation. “Until we resolve that lack of clarity we cannot answer the […]

Posted July 13, 2016 13:40:47 Photo: Prime Minister John Key initially dismissed concerns about money laundering. (AFP: Marty Melville, file photo) New Zealand has announced it is tightening rules surrounding foreign trusts after numerous documents in the Panama Papers leak referenced the country. Officials in Wellington said the changes would improve the disclosure and registration […]

MOSCOW (Sputnik) — The European Parliament’s Committee of Inquiry into Money Laundering, Tax Avoidance and Tax Evasion, responsible for the Panama Papers leak investigation, on Tuesday elected EU lawmaker from Germany Werner Langen as its chair, the parliament’s press service said in a statement. On June 8, the European Parliament agreed to set up an inquiry committee into the Panama Papers leak. “At its constitutive meeting […]

At its constitutive meeting in Brussels on Tuesday, the EU Parliament’s Committee of Inquiry into Money Laundering, Tax Avoidance and Tax Evasion (PANA) elected Werner Langen (EPP, DE) as its chair, by acclamation. The Parliament also held its constitutive meeting today with German MEP Fabio De Masi elected as Vice-Chair. Tasked with investigating alleged contraventions and maladministration of EU […]

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 […]