 |
| Sidi Sanneh |
More than $ 500 million has been recouped by tax authorities
worldwide after the Panama Papers revelations, first published in April 2016,
according to the International Consortium of Investigative Journalists (ICIJ).
Spain alone has collected $ 122 million after investigation
into the affairs of those who have been stashing money offshore.
Among
the countries represented in the Panama Papers data, a total of 15 – on three
continents - have publicly commented on the amount of taxes recovered by tax
authorities.
Of equal importance is the
tax authorities have been able to identify, in many instances, the sources of
the proceeds deposited in these accounts.
This number, according to ICIJ, could keep growing with
several countries still conducting audits on the basis of the Panama Papers
information. In Canada, 123 audits are
underway and several criminal investigations are ongoing, according to the
Canadian Revenue Agency. South Korea
also reported having recouped $ 1.2 billion in taxes this year, although it is
not clear what percentage is directly connected to the Panama Papers.
Last July, the German federal police agency announced it had
bought the Panama Papers data. The
agency conducted raids and has so far frozen two million euros. Danish tax authorities also acquired portion
of the Panama Papers data and are investigating 320 companies and 500 to 600
individual linked through the data to Denmark.
Arrests related to the Panama Papers are taking place in
Panama as part of investigations into Brazil’s largest ever bribery scandal
known as Lava Jota.
Meanwhile, ICIJ’s
partners continue to explore the Panama Papers data for new leads. In Bolivia, ICIJ partners unveiled last
October the use of Panamanian company by American businessman Jacob Ostreicher
to do business in Bolivia. Ostreicher
was arrested in 2011 on suspicion of money laundering. His business partner was subsequently jailed
while he fled Bolivia, according to ICIJ, thanks to the help of the American
actor Sean Penn, who helped get him transferred from prison to house arrest,
which he then left behind.
One of the most remarkable development s of the Panama
Papers in 2017 unfolded in Pakistan last July when the Supreme Court, in an
unanimous vote, removed the prime minister, Nawaz Sharif, from office.
----------------------------------
With the exception of few details, the entire blog post is based on the reporting of the International Consortium of Investigative Journalists.
