Pandora Papers: Tax authorities begin investigation in UK and Australia | Economie

In the UK, nearly 12 million leaked documents will be looked at by tax authorities, British 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 involvement in a shady communications deal in Uzbekistan. Both Prime Minister Boris Johnson and Sunak confirmed that all donors are carefully screened.

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.”