Magazine article Public Finance

Taskforce to Investigate Leads on Panama Papers

Magazine article Public Finance

Taskforce to Investigate Leads on Panama Papers

Article excerpt

The government has set up a crossWhitehall taskforce to investigate 700 leads on possible tax evasion following the publication of leaked papers from Panama law firm Mossack Fonseca.

The taskforce, which was announced by David Cameron as he published his own tax returns, will be led by HMRC and the National Crime Agency. It will draw on investigators, compliance specialists and analysts from these agencies as well as the Serious Fraud Office and the Financial Conduct Authority.

Cameron said £iom would be made available to ensure that the files, which have revealed possible money laundering and tax evasion, are fully investigated.

An initial report will be made to chancellor George Osborne and home secretary Theresa May later this year.

"The UK has been at the forefront of international action to tackle the global scourge of aggressive tax avoidance and evasion, and international corruption more broadly," Cameron said. …

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