The Panama Papers: how the world’s rich and famous hide their money offshore | News | The Guardian

The Guardian, working with global partners, will set out details from the first tranche of what are being called “the Panama Papers”. Journalists from more than 80 countries have been reviewing 11.5m files leaked from the database of Mossack Fonseca, the world’s fourth biggest offshore law firm.

 

The records were obtained from an anonymous source by the German newspaper Süddeutsche Zeitung and shared by the International Consortium of Investigative Journalists with the Guardian and the BBC.

 

Though there is nothing unlawful about using offshore companies, the files raise fundamental questions about the ethics of such tax havens – and the revelations are likely to provoke urgent calls for reforms of a system that critics say is arcane and open to abuse.

 

The document leak comes from the records of the firm, which was founded in 1977. The information is near live, with the most recent records dating from December 2015.

 

The hidden wealth of some of the world’s most prominent leaders, politicians and celebrities has been revealed by an unprecedented leak of millions of documents that show the myriad ways in which the rich can exploit secretive offshore tax regimes.

 

 

Staff Favourites View more

Staff Favourites
When you or our staff find great progressive news articles, we post them here. Send along your personal favourite story links to: favourites (at) ukprogressive (dot) co (dot) uk and we may select it for publication.

Leave a Comment