On April 2, Germany’s Suddeutsche Zeitung published alleged documents from the Panamanian Mossack Fonseca company in which the newspaper confirms ties to a number of world leaders and their circles to off-shore schemes.
The German publication specifically notes Chinese President Xi Jinping, Ukrainian President Petro Poroshenko, Azeri President Ilham Aliev, Moroccan King Mohammed VI, Saudi King Alman ibn Abdul-Aziz al Saud, the late father of British Prime Minister David Cameron, and a number of individuals allegedly close to Russian President Vladimir Putin.
Finance Minister Wolfgang Schäuble has been accused of ignoring warnings about bribery at the Federal Printing Office (Bundesdruckerei) for several years before it being exposed in the Panama Papers leak.
The so-called 'Panama Papers' look set to claim another scalp, that of Bollywood superstar Amitabh Bachchan.
In the wake of the Panama Papers leak which exposed tax evasion at the highest seats of political and corporate power throughout the globe, governments in the world’s leading economies are developing stricter regulations to limit access to tax havens and combat tax evasion.
The real aim of the leakers of the "Panama Papers" may have been to expose a global network of drug money and other criminal cash flows, but the Western media instead has focused on trying to discredit Russia’s president Vladimir Putin, analysts told Sputnik.
The chairman of the Scottish Land and Estates (SLE), the organization that represents private landowners, told Sputnik on Friday that it welcomed the intention of the ruling Scottish National Party (SNP) to introduce more transparency in the land ownership following the so-called Panama Papers leak.
Marco Zanni, an Italian member of the European Parliament said that stricter control over the banking system, over financial transactions and over the flows of money could be a serious option to prevent tax avoidance and tax cheats.
The EU institutions lack the willingness to undertake real measures to fight against tax evasion because the European politicians in fact benefit from tax loopholes, an Italian member of the European Parliament (MEP) told Sputnik Friday.
Michael Theurer, a German member of the European Parliament, said that the inquiry committee is the right format to deal with the Panama Papers revelations – “the biggest data leak of all times that has made its way in the public and that needs not only judicial but also political consequences.”
Spain's acting Minister of Industry Jose Manuel Soria resigned on Friday due to his links to offshore companies exposed in the Panama Papers, the ministry said in a statement.
Five major European Union countries urged the G20 to list shell companies' owners in order to impose sanctions on states where the companies belong after PanamaLeaks case, France's Finance Minister Michel Sapin said.
George Soros' Open Society Foundation has nothing to do with Karl Popper's dream of a future "open society" built on principles of genuine democracy and freedom, US political analyst Phil Butler notes, adding that the billionaire is involved in nothing less than massive social engineering projects in Europe.
UK Prime Minister David Cameron faced his first grilling in the House of Commons Wednesday since admitting benefitting from an offshore fund controlled by his late father, which avoided payment of corporation tax in Britain.
Lawmakers in the European Parliament are set to expand the remit of its TAXE Inquiry into aggressive tax-planning by multinationals - including Google, Starbucks and McDonalds - following the leak of the Panama Papers which exposed large-scale tax avoidance.
The secret tax evasion operations reportedly exposed in the leaked Panama Papers will deal devastating blows to major international crime rings and wealthy tax evaders in Western countries, rather than inflict damage on the Russian or Chinese leaders, analysts told Sputnik.
The Group of 20 (G20) major economies will discuss the so-called Panama Papers leak alleging a global tax haven scheme at their ministerial meeting this week, Organization for Economic Co-operation and Development (OECD) Secretary General Angel Gurria said.
Bulgarian Finance Minister Vladislav Goranov made clear that his office and the National Revenue Agency (NRA) stand ready to look into allegations of Bulgarian nationals running or being linked to tax havens, a Bulgarian radio station reported.
Economic and financial ministers of the 28 EU nations will gather for an informal meeting on April 22 to discuss the so-called Panama Papers leak that allegedly exposed offshore financial schemes, the defense minister of the Netherlands, which is currently presiding over the European Council, said Tuesday.
The Panama Papers leak - which exposed how the rich and famous are using tax havens to avoid paying taxes in the EU - is further evidence of the failure of the European Union to combat financial malpractice in Europe, Sputnik has been told.
The recent Panama Papers revelations, as well as the 2014 LuxLeaks scandal, have exposed the EU's hypocrisy when it comes to tackling tax evasion, with an "abysmal gap" between the rhetoric and actions of governments, economist Thomas Piketty has said.
Intelligence agencies from different states were using the services of Mossack Fonseca, a Panama firm selling offshore companies, for years to conceal their activities, a German newspaper said Tuesday.
Faced with a parliamentary grilling, public ridicule and calls to resign over his links with offshore trust funds, commentators have described British Prime Minister David Cameron's situation as "poisonous." Despite the anger the PM faces, it is unlikely that he will step down, Sputnik has been told.