02:47 GMT +324 January 2020
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    #PanamaPapers: Biggest Ever Offshore Leaks (94)

    France placed Panama back on its tax haven blacklist following the allegations of a Panama-based law firm providing offshore services for global leaders, French Finance Minister Michel Sapin said in parliament Tuesday.

    PARIS (Sputnik) – Panama has been off France’s List of Non-Cooperative States and Territories (NCST) since 2012. Inclusion in the list imposes a 75-percent withholding tax on French businesses and individuals with investments in blacklisted jurisdictions.

    "France has decided to put Panama on the list of non-cooperative states, with all the consequences for those conducting transactions," Sapin said in a question and answer session.

    His decision came two days after German media exposed the alleged involvement of multiple former and current world leaders in offshore schemes by publishing materials it claims came from Mossack Fonseca, a Panama firm that specializes in selling offshore companies.

    Business people and experts from the French National Front party leader Marine Le Pen’s close circle, including longtime friend Frederic Chatillon and former economic adviser Nicolas Crochet, may have been involved in illegal offshore schemes, according to the alleged revelations.

    Mossack Fonseca has refused to verify the information contained in the leaks but accused reporters of gaining unauthorized access to its proprietary documents. It warned that using unlawfully-obtained data was a crime that it would not hesitate to pursue through the courts.

    #PanamaPapers: Biggest Ever Offshore Leaks (94)


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