Governments to take action on tax avoidance after Panama leaks

Governments worldwide are now investigating reports of international tax avoidance following the leak of more than 11 million files from a Panamanian law firm.

Protests in Reykjavik over Panama Papers. Source: AAP

Tens of thousands of rich and powerful people, including hundreds of Australians, have been mentioned in what is seen as an extensive investigation into offshore financial dealings.

Labor has renewed calls for the federal government to take action on tax avoidance by multi-national companies and wealthy individuals.