Investigations into tax evasion will be opened through structures in tax havens in both the UK and Australia. This was stated by the relevant government departments in response to the Pandora Papers, a publication of the International Consortium of Investigative Journalists (ICIJ).
In the UK, nearly 12 million leaked documents will be looked at by tax authorities, UK Chancellor of the Exchequer Rishi Sunak told Sky News. Former British Prime Minister Tony Blair and British singer Elton John are two of the most prominent names on a list of 29,000 individuals allegedly using structures in tax havens.
The country’s Conservative Party has been criticized for its alleged involvement in a shady communications deal in Uzbekistan. Both Prime Minister Boris Johnson and Sunak confirmed that all donors are carefully screened.
Your secrets are no longer safe.
An investigation into Pandora’s Papers will also be opened in Australia, according to the Australian Tax Office. “The message is clear to those trying to deceive the system: Your secrets are no longer safe and you can expect your actions to have dire consequences,” Vice President Will Day said. “We can decipher any financial impact, no matter how complex.”
The vice president stresses that a data breach does not automatically mean that everyone is involved in tax evasion or a crime. “There are many legitimate reasons to have an offshore bank account. We know that most Australians are doing it right. On the other hand, there are also those who try to hide assets or financial malpractice in offshore schemes.”
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