This year’s release of the “Panama Papers” is holding individuals accountable for actions which, if not always illegal, in many cases appear to have at least been unethical. While there are legal uses for such firms, they can also be used to hide income to avoid taxes. In Europe, meanwhile, the leak has prompted an EU Commission paper calling for stronger measures against tax evasion, which was discussed at a meeting of EU finance ministers in Amsterdam, Reuters reports. The Panama Papers comprise 11.5 million records – emails, databases, images – leaked from Panama-based law firm Mossack Fonseca.”]
Source: https://www.govinfosecurity.com/blogs/life-short-evade-taxes-p-2111