: :inin Kyiv (EET)

Panama Papers: World’s rich use tax-free New Zealand shelf companies to hide funds


Parker Song/Pool/ReutersWELLINGTON (Reuters) – Wealthy Latin Americans are using secretive, tax-free New Zealand shelf companies and trusts to help channel funds around the world, according to a report on Monday based on leaks of the so-called Panama Papers.
Pressure is mounting on Prime Minister John Key to take action after local media analyzed more than 61,000 documents relating to New Zealand that are part of the massive leak of data from Mossack Fonseca, a Panama-based law firm. The papers have shone spotlight on how the world’s rich take advantage of offshore tax regimes.
Mossack Fonseca actively promoted New Zealand as a good …read more

Source: Business Insider

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