Don’t Blame Panama. Tax Evasion Is a Global Problem.


Panama City — DESPITE their name, the Panama Papers are not mainly about Panama. They are not even primarily concerned with Panamanian companies. The more than 11 million documents, illegally hacked and released last week relating to previously undisclosed “offshore” corporations, is roiling the world with revelations of the vulnerability for rampant abuse of legal financial structures by the wealthy.

They are unfairly called the Panama Papers because this particular trove of documents came from a single law firm based in Panama. But the problem of tax evasion is a global one.

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Panamanian Government reaffirms its commitment to reforms to strengthen transparency in its legal services

Ministerio de gobierno

With regard to international publications mentioning a Panamanian law firm, the administration of President Juan Carlos Varela reaffirms that in its 21 months of government, it has demonstrated an absolute commitment to transparency in legal and financial services, as shown by the country’s recent exclusion from the FATF-GAFI Grey List…

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