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Global tax authorities probe Panama Papers

Police stand guard outside the Mossack Fonseca law firm offices in Panama City during a raid on April 12, 2016Tax authorities from the world’s richest nations on Wednesday probed a mass of murky offshore dealings revealed in the huge Panama Papers data leak, just hours after police raided the law firm at the centre of the scandal. The leak of 11.5 million confidential financial documents from Panamanian law office Mossack Fonseca offered international tax officials meeting in Paris an unprecedented trove of data to delve into alleged wrongdoing, officials said. Tax investigators discussed how to cooperate and share data unearthed in the Panama Papers, according to a statement released after the meeting by the 38-nation advanced economies club, the Organisation for Economic Cooperation and Development (OECD).

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