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The Panama Papers form a leaked set of 11.5 million confidential documents created by the Panamanian corporate service provider Mossack Fonseca that provide detailed information on more than 214,000 offshore companies, including the identities of shareholders and directors. The documents identify (as directors and shareholders of such companies) current government leaders from five countries — Argentina, Iceland, Saudi Arabia, Ukraine and the United Arab Emirates — as well as government officials, close relatives and close associates of various heads of government of more than 40 other countries, including Brazil, China, Peru, France, India, Malaysia, Mexico, Pakistan, Russia, South Africa, Spain, Syria and the United Kingdom. Comprising documents created since the 1970s that amount to 2.6 terabytes of data, the papers were supplied to the Süddeutsche Zeitung in August 2015 by an anonymous source, and subsequently to the U.S.-based International Consortium of Investigative Journalists (ICIJ). The papers were distributed to and analyzed by about 400 journalists at 107 media organizations in more than 80 countries. The first news reports based on the set, along with 149 of the documents themselves, were published on April 3, 2016, and a full list of companies is to be released in early May 2016.

Panama Papers Series

To really tackle corporate tax evasion we need a public register

Sep 12, 2016 02:05 am UTC| Insights & Views Politics

The Australian government shouldnt rely on leaks like that of the Panama Papers to pick up on tax evasion, it should consider stronger action. The federal government showed some leadership earlier this year by...

Panama Papers Series

Why British law doesn't necessarily apply in overseas territories

May 05, 2016 16:59 pm UTC| Law

Until the Panama Papers scandal broke, it would have been easy to think that the widest possible definition of the United Kingdom is England, Wales, Scotland and Northern Ireland. But the territory is much wider than that ...

Panama Papers Series

Panama Papers revelation: we must rethink data security systems

May 04, 2016 12:31 pm UTC| Insights & Views

The surge of information leaks from highly confidential sources in recent years demonstrates the futility of current cyber defenses. The leaks of U.S. diplomatic cables, Office of Personnel Management data, CIA...

Panama Papers Series

Should tax collection be privatised?

Apr 20, 2016 06:08 am UTC| Insights & Views Business Law

The release of the Panama papers is yet to reach its endgame, but there are some clear truths we can take from it. People or businesses who dont pay their taxes whether deliberately or through ignorance undermine state...

Panama Papers Series

Did you cheat on your taxes? Here's why your days may be numbered

Apr 18, 2016 04:28 am UTC| Insights & Views Law

The so-called Panama Papers span thousands of pages, revealing that many of the worlds elite have been hiding their money in offshore accounts in an attempt to shield their income from taxes. Their release the biggest...

Panama Papers Series

Why Europe's new tax initiative is a big deal

Apr 15, 2016 15:16 pm UTC| Insights & Views Law

Public outcry over revelations in the Panama papers about global levels of tax dodging has led to political action. Europes five largest economies the UK, France, Germany, Italy and Spain have agreed to new transparency...

Panama Papers Series

Should all politicians publish their tax returns? Here's what we might find

Apr 14, 2016 08:04 am UTC| Insights & Views Law Politics

Public pressure has forced Britains prime minister, David Cameron, to publish a summary of his taxable income, and a string of UK politicians have followed suit. The moves comes in the wake of the Panama Papers data leak,...

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Economy

US investment banks take funding intended for small businesses

Investment banks advising on corporate dealmaking received tens of millions of dollars from the $660 billion Paycheck Protection Program (PPP), which were earmarked to assist small businesses in the pandemic-induced...

Canada urged to focus on boosting economy than managing debt

Analysts say Canada should focus on implementing measures to boost economic growth and incentives to get people back to work instead of managing its budget deficit. Due to the countrys growing debt, Fitch downgraded...

EU warns of decisive action against US over trade disputes

The EU is threatening to take decisive action against the US over its unwillingness to settle the issue of aircraft subsidies and its plan to conduct new investigations in trade deficits. The aircraft trade dispute...

S. Korea posts record-high forex reserves of $410.75-B

South Koreas foreign exchange reserves reached a record high of $410.75 billion in June, having gained $3.44 billion from May due to profits and investment returns from overseas assets and a weak dollar. The June...

International banks sue Argentine soy crusher for diverting funds

International creditor banks are suing Argentine soy crusher Vicentin of diverting hundreds of millions of dollars and have asked a US court to subpoena records as part of a lawsuit, including wire transfers and bank...

Politics

Joe Biden: Former VP assembles aides for Pennsylvania campaign

The Biden campaign is zeroing in on the swing states for the upcoming elections in November. This time, the former vice president has taken on several aides to lead the charge in his campaign in Pennsylvania. The Hill...

Melania Trump: Former aide to FLOTUS to write a tell-all book

There have been quite a few books written about first lady Melania Trump, the latest being by Washington Post reporter Mary Jordan called The Art of Her Deal. Now, another book is being written about the first lady, but...

Donald Trump: POTUS says waving of the Confederate flag is "freedom of speech"

100% uniqueness President Donald Trump has recently ripped into NASCAR for its decision to ban the Confederate flag in its events following the changes sparked by the death of George Floyd to put an end to the...

Melania Trump’s Independence Day dress makes headlines, prompts fact-check reports

United States First Lady Melania Trump has received both applause and criticisms for her fashion choices over the years. However, her eve of Independence Day dress garnered social media attention for quite a unique reason...

Science

Black hole: Scientist addresses the concern that the universe could collapse into a supermassive black hole

There have been many theories suggesting what could happen when the universe has reached its final or ultimate end or at least what would happen once the Sun dies out. One scientist, in particular, weighed in on the...

Archaeologists discover remains of guillotine victims inside a chapel in France

Being executed by guillotine seems like the most gruesome type of execution there is for its bloody nature. Archaeologists have recently uncovered the skeletal remains of around 500 victims of the deadly machine inside the...

NASA: Hubble Space Telescope photographs a supernova remnant

Along with the creation of celestial objects such as stars, destruction is also present in the form of violent supernovas that would follow dying stars. The Hubble Space Telescope was able to capture a remnant from a...

Archaeologists find proof of tooth decay and cavities in 9,000-year-old discoveries

It is clear that many problems that were once prevalent in ancient times are no longer a problem today and vice versa. However, there are some problems that, as archaeologists have found, have been actually been present...

Technology

‘World of Warcraft’ bonus events reward players with passive reputations buffs

World of Warcraft players looking to improve their in-game reputation faster than the normal process will have several chances to do it until next week. All they have to do is join special events, including the Cataclysm...

‘The Sims 5’: Would EA launch it on Nintendo Switch?

EA and Maxis life simulation series has to be one of the most popular video game franchises ever. It is then only natural for fans anticipating the release of The Sims 5 to ask if the next installment would mark the IPs...

‘Kingdom Hearts 4’: What ‘Re:Mind’ tells fans about Sora’s fate and the franchise’s future

The wait for Kingdom Hearts 4 has officially started when players complete the missions and stories in the KH3: Re:Mind DLC released earlier this year. Fans should make sure they explore all the endings included in the...

‘GTA 6’: Is the next game already in development?

This year, the GTA V title will officially become a game that is supported by three generations of consoles from both Sony and Microsoft. Fans may find it exciting or disappointing depending on how much they want to get a...
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