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22 April 2016 / Peter Vaines
Issue: 7695 / Categories: Features , Tax , Commercial
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Taxing matters

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Peter Vaines wonders what all the fuss is over the Panama Papers & reports on other recent developments in the world of tax

All this business about the Panama Papers is driving me bonkers. Everybody is getting themselves all worked up about the tax issues relating to funds deposited in Panama—but these revelations have got very little to do with tax. It seems much more likely that most of the money is not put there to escape tax (such people are hardly likely to have been paying tax anyway) but to conceal the proceeds of crime, money laundering and corruption—on a biblical scale. Indeed, in the published list of people who had money in Panama, there is a whole section entitled “Organised Crime”.

It never ceases to amaze me how in some countries, a perfectly ordinary person can be elected to high office and before very long is able to accumulate untold millions (or billions) of pounds without anybody really getting too fussed about it. It is difficult to see any legitimate way in which

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MOVERS & SHAKERS

EIP—Stuart Malcolm

EIP—Stuart Malcolm

EIP strengthens Commercial practice with a new partner

Ellisons—Francesca Brown

Ellisons—Francesca Brown

Ellisons welcomes Francesca Brown to Family team

Shakespeare Martineau—Marie Bourke

Shakespeare Martineau—Marie Bourke

Shakespeare Martineau strengthens Sheffield regulatory practice with new hires

NEWS
A wide-ranging Civil Way column highlights developments from insolvency procedure to employment law, but one case stands out for its lessons on bankruptcy, family homes and digital communications
A sprawling Intellectual Property Office battle between House of Fraser and Frasers Property has delivered a masterclass in modern trade mark law
Courts in England and Wales and Singapore are increasingly confronting complex disputes over international child relocation as families become more globally mobile
The government’s long-awaited family law reform consultation could mark a turning point for domestic abuse victims navigating financial remedy proceedings, but significant challenges remain
A new commercial court pilot giving the public access to documents used in hearings, including expert reports, is raising difficult questions about transparency and privacy
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