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Panama Papers: Tax havens of the rich and powerful revealed in major leak of confidential documents.

AAP
AAP Source: AAP

An international coalition of media outlets on Sunday published what it said was an extensive investigation into the offshore financial dealings of the rich and famous, based on a vast trove of documents provided by an anonymous source.


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By Justin Park

Source: SBS



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An international coalition of media outlets on Sunday published what it said was an extensive investigation into the offshore financial dealings of the rich and famous, based on a vast trove of documents provided by an anonymous source.


The International Consortium of Investigative Journalism, a nonprofit organisation based in Washington, said the cache of 11.5 million records detailed the offshore holdings of a dozen current and former world leaders, as well as businessmen, criminals, celebrities and sports stars.

Tax authorities are investigating 800 Australian clients of Mossack Fonseca, which helps heads of state, criminals and celebrities set up companies in offshore tax havens.

Australian Taxation Office deputy commissioner Michael Cranston said at least 120 are associated with an offshore service provider for Mossack Fonseca in Hong Kong.

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