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Mossack Fonseca’s biggest sources of business are based in Hong Kong (Photo: Mariusz Kluzniak)

Five EU states to crack down on offshore secrets

A handful of EU states on Thursday (14 April) announced they would crack down on tax dodging by peeling back secrecy provisions in shell companies and overseas trusts.

The move follows the release of over 11 million documents from Panamanian law firm Mossack Fonseca that reveal how the global elite avoid paying into public coffers.

Finance ministers from France, Germany, Italy, Spain and the United Kingdom, pledged an automatic exchange of information on offshore accounts starting...

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Author Bio

Nikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.

Mossack Fonseca’s biggest sources of business are based in Hong Kong (Photo: Mariusz Kluzniak)

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Author Bio

Nikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.

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