Lax Oversight of Swiss Lawyers Blamed in EU’s Panama Probe
By Joe Kirwin From Bloomberg BNA Switzerland’s lack of regulatory oversight for lawyers, as well as loopholes that allow them to ignore due-diligence rules, came under intense scrutiny at a European Parliament hearing probing Switzerland’s role in the year-old Panama…
RBC closes customer accounts as Panama Papers review concludes
By Doug Alexander From Bloomberg Royal Bank adds new tax compliance measures after examination Accounts of about 40 clients shut due to bank’s risk-tolerance Royal Bank of Canada closed accounts of about 40 clients and bolstered tax compliance following a…
Crackdown on tax havens would risk UK ‘crime-busting capability’
From Sputnik News A decision by members of the UK House of Commons to pass a bill designed to make it harder from criminals to cover their identities by using UK-linked tax havens to disguise property and asset ownership has…
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EU Panama Papers inquiry chief condemns U.K. no-show
By Ben Stupples From International Tax The chairman of the EU’s Panama Papers inquiry has slammed the U.K. Treasury’s refusal to meet with investigators, raising concern over Britain’s commitment to the high-level investigation. It was “most disappointing and regrettable that…
Why are the ‘Panama Papers’ a big deal?
By KUANG KENG KUEK SER From KERA NEWS By now you’ve probably heard of the “Panama Papers,” the name bestowed on a massive database leaked from a law firm based in Panama. The leaked documents show that the company, Mossack Fonseca,…
UK accused of erecting ‘brick wall’ over tax havens, laundering, corruption
From Sputnik News The UK – which [last] Friday (December 9) [hosted] a global tax transparency summit – has been accused of erecting a “brick wall” over hundreds of thousands of companies that use British Oversea Territories as tax havens…
Panamanian organised crime prosecutor obtains extension in Panama Papers law firm investigation
By Kenneth Rijock From Caribbean News Now PANAMA CITY, Panama — Javier Caraballo, the lead organised crime prosecutor investigating Panama Papers law firm, Mossack Fonseca, since April 2016, has obtained an extension of time in which to continue his ongoing…
Cameron adviser reveals No 10’s alarm at his holding in offshore fund [Cayman Islands]
By Holly Watt From The Guardian UK Book by Craig Oliver says Downing Street did not disclose investment after deciding: ‘We think it’s fine, but what if it’s not?’ Downing Street officials were alarmed to discover that David Cameron had…
Panama hires PR firm amid ongoing Panama Papers fallout
By Will Fitzgibbon From Caribbean News Now International Consortium of Investigative Journalists (ICIJ) WASHINGTON, USA — Arrests, protests and legal challenges continue across the world, and Panama has now officially engaged a public relations firm to manage the country’s reputation…
Push for EU mandatory disclosure of tax avoidance schemes
By Pat Sweet From CCH Daily Slovakia, the current president of the EU council, challenges finance ministers from all the EU member states to introduce mandatory disclosure rules for intermediaries including accountants who seek to profit from the promotion, design…
