Tuesday, April 05, 2016

Australian Tax Office Investigating Hundreds of Mossack Clients

"Currently we have identified over 800 individual [Australian] taxpayers and we have now linked over 120 of them to an associate offshore service provider located in Hong Kong," the ATO said in a statement to the Financial Review.
The files show how Mossack Fonseca thwarted Australian regulators and police inquiries, continued to act for individuals accused of fraud and embezzlement, and lobbied actively to prevent Australia from signing agreements that would allow the exchange of tax information with Samoa, a key tax avoidance jurisdiction.
While most investors and corporations who use tax havens have legitimate reasons to use these structures, the leaked records also show some companies domiciled in tax havens were being used for suspected money laundering, arms and drug deals, and tax avoidance.


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