China was largest market for Panama Papers law firm: ICIJ

Apr 7, 2016

China was largest market for Panama Papers law firm: ICIJ

Nearly a third of the business of Mossack Fonseca, the law firm at the center of the Panama Papers scandal, came from its offices in Hong Kong and China, reports say, making the Asian giant its biggest market. Shell companies incorporated through the Hong ...

Apr 5, 2016

Panama rejects money-launderer label following documents leak

Panamanians have long shrugged off their country’s checkered reputation as a financial haven for drug lords, tax dodgers and corrupt oligarchs. If they are crooks, they’ve learned from the world’s wealthy nations, according to a common joke. That same defensiveness has re-emerged amid the ...

Apr 4, 2016

Russian spokesman denies Putin's involvement in offshore accounts

The spokesman for Vladimir Putin has dismissed suggestions that the Russian president is involved in an offshore account scheme as a smear likely motivated by “Putinophobia.” Documents published by more than 100 media outlets alleged that Putin’s friends, including a leading cellist, were engaged ...

Mar 4, 2016

Facebook to ditch tax-reducing U.K. sales structure

Facebook said it would stop booking sales to U.K. clients via Ireland, a practice which reduced its taxes, following the British government’s introduction of a new tax on profits shifted offshore. In future, Facebook will report its U.K. sales in Britain. “In light of ...

Feb 26, 2016

Japan's government talks of postponing 2017 tax hike

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The government is ready to postpone a scheduled hike in the consumption tax if the move looks like it would weaken the economy and reduce total tax revenues, Chief Cabinet Secretary Yoshihide Suga told a regular news conference Friday. The government has pledged to ...