Wealthy Latin Americans are using secretive, tax-free New Zealand shelf companies and trusts to help channel funds around the world, according to a report on Monday based on leaks of Panama Papers.
Pressure is mounting on Prime Minister John Key to take action after local media analysed more than 61,000 documents relating to New Zealand that is part of the massive leak of data from Mossack Fonseca, a Panama-based law firm. The papers have shone the spotlight on how the world’s rich take advantage of offshore tax regimes.
Mossack Fonseca actively promoted New Zealand as a good place to do business due …read more
Source: Pakistan Today
