#panamapapers reaction

The Panama Papers are a world-shaking leak of 11.5m files from the database of the world’s fourth-biggest offshore law firm – Mossack Fonseca.

Twelve national leaders and some celebrities such as Nawaz Sharif, Pakistan’s prime minister; son of Egypt’s former president; the prime minister of Iceland, Sigmundur David Gunnlaugsson, soccer player Lionel Messi, Chinese actor Jackie Chan have known to use offshore tax havens.

Recently, the Twitter’s news feed has been flooded with the hashtag #panamapapers. Most of the people accuse  such these people with offshore bank accounts of laundering money or avoiding taxes.

Some argue that it is currently legal to open an offshore bank account. When we haven’t had any clear evidence, don’t judge anyone.  Wait and see.

In my opinion, I agree with the idea that it is legal to establish offshore bank accounts. However, the trouble only comes when wealthy individuals, politicians take advantage of these accounts to conceal assets, avoid taxes and launder money that may be illegal. To accuse anyone of avoiding taxes, we must wait for the detailed proof.

One thought on “#panamapapers reaction

  1. When big, controversial news like this break out it’s easy for people to get passionate and believe the first thing the hear or read. Not saying I agree with those that support the accused but it’s great to know there’s a hashtag where (potentially) many relevant and factual details can be brought to light.

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