Offshore world hit by major Panama documents leak

Governments, tax authorities, journalists and experts on tax evasion and avoidance on Monday were digesting news, reported yesterday, of a major leak of confidential and reportedly revealing documents from a Panamanian law firm. Some are calling it the biggest leak of confidential information ever to hit the global financial services industry. The news is expected to make uncomfortable reading for those who have been arguing that new regulations and disclosure laws have been at last putting an end to the use of so-called tax havens by wealthy people and companies keen to hide their as...