Details have now been released going back 40 years.

As with previous lists, tax authorities around the world will no doubt be analysing the data and seeking to challenge those they feel may have questions to answer.  How relevant to tax those questions will be remains to be seen.

In terms of just the UK, 1,549 name of “intermediaries” are shown and 3,037 “entities” (companies etc.) and many have links to other tax jurisdictions.  The media has not focussed much on the legitimate aspects such as tax planning and those who may simply be seeking privacy in their financial affairs.  However, with such a vast amount of data there is likely to be some elements of tax evasion within the data.

This is an opportunity for the GGI alliance as a whole and specifically members of the ITPG to work together.

Collaboration with like minded specialists is welcome and I can be contacted  at pmalin@hwca.com or on +44 (0)7919 375 650.