The global extent of the Panama Papers leak

Mossack Fonseca deals with national leaders, politicians and public officials from all around the world and incorporates thousands of companies in some of the worlds most popular tax havens. One of the many things that the Panama Papers revealed was the global extent to which these attempts to evade tax take place. Encompassing high profile figures such as Ukraine President Petro Poroshenko and the Icelandic Prime Minister Sigmundur Davíð Gunnlaugsson. The latter resigned from his post on Tuesday as a direct result of the leak which revealed how his family had sheltered money offshore.

The shockwaves are still rolling out from this, the biggest leak in history. With Vladmir Putin and David Cameron both also indirectly implicated, it still remains to be seen if any bigger scalps will be claimed by the revelations. In total, there are reported to be leaders or politicians/public officials from 59 countries named in the documents.

The most popular jurisdiction used by the bank to incorporate companies is the British Virgin Islands. At almost 114 thousand, this makes one in two of all of the companies evidenced by the leak.

You can read more about this on theweek.co.uk.