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French President Francois Hollande has hailed the “Panama Papers” revelations about potential offshore tax evasion as a big boost to tax revenues. “These revelations are good news because they will increase tax revenues from those who commit fraud’ Hollande said.
French President Francois Hollande has hailed the revelations. The documents show 12 current or former heads of state and 61 people linked to current or former world leaders in the data.
India, Pak businessmen, politicians hide money in Panama?
Gerard Ryle, Director of the International Consortium of Investigative Journalists, said the documents covered the day-to-day business at Mossack Fonseca over the past 40 years.
Meanwhile, Iceland’s Prime Minister is under pressure to quit after the leak of the “Panama Papers” tax documents showed he and his wife used an offshore firm to hide million-dollar investments.
A former Prime Minister urged Sigmundur David Gunnlaugsson to resign after the International Consortium of Investigative Journalism on Sunday released 11.5 million financial records detailing the holdings of a dozen current and former world leaders.
More than 16,000 Icelanders have also signed a petition demanding his resignation, while the opposition has said it will seek a vote of no confidence in Parliament, likely to be held this week.