The government should consider imposing “direct rule” on British overseas territories and dependencies if they do not comply with UK tax law, Labour Party leader Jeremy Corbyn has said.
A huge data leak from Panama-based Mossack Fonseca showed the law firm registered more than 100,000 secret firms to the British Virgin Islands. Mr Corbyn said their governments must understand the “anger” of Britons. Downing Street said the UK was “ahead of the pack” on tax transparency.
Eleven million leaked documents showed how Mossack Fonseca clients were able to launder money, dodge sanctions and avoid tax – the law firm says it has operated beyond reproach for 40 years.
There are links to 12 current or former heads of state in the data, including dictators accused of looting their own countries.
Leaked files also mention UK Prime Minister David Cameron’s late father, Ian, who used one of the most secretive tools of the offshore trade after he helped set up a fund for investors.
Downing Street sources told the BBC Mr Cameron did not have any shares in Blairmore Holdings, the Panama-based company his late father Ian helped set up in 1982.
The sources are not saying that other members of the Cameron family do not own shares in the offshore firm, however.
A huge data leak from Panama-based Mossack Fonseca showed the law firm registered more than 100,000 secret firms to the British Virgin Islands. Mr Corbyn said their governments must understand the “anger” of Britons. Downing Street said the UK was “ahead of the pack” on tax transparency.
Eleven million leaked documents showed how Mossack Fonseca clients were able to launder money, dodge sanctions and avoid tax – the law firm says it has operated beyond reproach for 40 years.
There are links to 12 current or former heads of state in the data, including dictators accused of looting their own countries.
Leaked files also mention UK Prime Minister David Cameron’s late father, Ian, who used one of the most secretive tools of the offshore trade after he helped set up a fund for investors.
Downing Street sources told the BBC Mr Cameron did not have any shares in Blairmore Holdings, the Panama-based company his late father Ian helped set up in 1982.
The sources are not saying that other members of the Cameron family do not own shares in the offshore firm, however.
