Panama Papers: Tactical Tax Planning

The Panama Papers have highlighted the need for international consensus on tax planning

Corporates, wealthy individuals and world leaders using the same offshore financial management vehicles as international drugs dealers and despots, should have rang alarm bells long before the publication of the Panama Papers.

Described by some tax experts as 'the biggest wake-up call for the public around the world', the 11.5 million leaked documents have put tax havens – or offshore financial centres – well and truly under the spotlight. This is precisely what the users of such vehicles had hoped to avoid. Secrecy, in addition to low or no taxes, is one of the principle 'benefits' of investing money offshore.