Panama Papers Expose Tax Evasion in Trillion of Dollars, Pakistani Leadership Included!

In what’s being hailed as the most extensive data journalism leak in the history of news, over 11.5 million documents and 2.6 Terabytes of data has been leaked from the databases of Mossack Fonseca, the world’s fourth largest offshore law firm. The data shows how the world’s richest celebrities, politicians and businessmen use offshore havens to avoid taxation.

The ‘Panama Papers’ were obtained from an anonymous source by German newspaper Süddeutsche Zeitung and were shared subsequently with other news outlets by the the International Consortium of Investigative Journalists.

They show details about 14,000 clients (including politicians, celebrities, sportsmen etc.) and 214,000 companies registered for the purpose of evading taxes.

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Technically, there’s nothing illegal about using offshore firms but serious questions are going to be raised regarding the ethics of using these companies for tax evasion.

In various markets, including the USA, setting up an offshore firm for the sole purpose of evading tax is illegal.

Pakistani Politicians and Businessmen Named in Panama Papers:

According to The News, the following people are involved in using offshore tax havens.

  • Prime Minister Nawaz Sharif’s family
  • Punjab Chief Minister Shahbaz Sharif’s relatives
  • Benazir Bhutto
  • Javed Pasha
  • Senator Rehman Malik
  • Senator Osman Saifullah’s family
  • Waseem Gulzar (a relative of the Chaudhrys of Gujrat)
  • Zain Sukhera, who was co-accused with former Prime Minister Yusuf Raza Gilani’s son in the Haj scandal
  • Hotel tycoon Sadruddin Hashwani
  • Real estate czar Malik Riaz Hussain’s son
  • Hussain Dawood family
  • Abdullah family of Sapphire Textiles
  • Gul Muhammad Tabba of Lucky Textiles
  • Shahid Nazir of Masood Textiles
  • Zulfiqar Ali Lakhani
  • Zulfiqar Paracha.
  • Justice Farrukh Irfan
  • Retired judge Malik Qayyum
  • Owner of Hilton Pharma, Shehbaz Yasin Malik
  • Chairman ABM Group of Companies Azam Sultan
  • Pizza Hut owner Aqeel Hussain
  • Chairman Soorty Enterprise Abdul Rashid Soorty

Some highlights from the Panama Papers are:

  • Nawaz Sharif is among the national leaders who have wealth stored offshore
  • Hasan Nawaz, Hussain Nawaz and Maryam Nawaz are also among those who allegedly setup offshore companies to evade tax
  • Other notable leaders implicated in the papers are Ayad Allawi, ex-interim prime minister and former vice-president of Iraq, Petro Poroshenko, president of Ukraine, Alaa Mubarak, son of Egypt’s former president; and the current prime minister of Iceland, Sigmundur Davíð Gunnlaugsson.
  • 12 national leaders and 143 politicians along with families and their close associates are using offshore tax havens.
  • Members of the House of Lords, former MPs and donors to UK’s political parties have wealth stored abroad.
  • Individuals who are sanctioned for supporting oppressive regimes and dictatorships around the world have accounts with the company.
  • A leaked memo from a Mossack Fonseca partner said: “Ninety-five per cent of our work coincidentally consists in selling vehicles to avoid taxes.”

While the company has denied all allegations, over 370 journalists from 100 news organizations have spent one year on verifying the documents.

A global summit of world leaders on the topic of tax havens is set to be conducted next month. It’s going to be interesting to see how it fares with many participants and their associates guilty of evading tax through offshore companies.

We should mention that this trove of documents is more extensive than the Wikileaks and Snowden revelations. As time passes and more of them are verified, we will get further insights into the wrongdoings of the rich and famous in the world, including our very own political leadership.

via Guardian

Talal is a Director and the Editor in Chief at ProPakistani.


  • Bilal Iqbal

    is it a hack or what.. ?

    • ScarletCrimson

      As far as I understand it, it’s a hack of a law-firm based in Panama that handles shelf companies and other shady/gray-area illegal business practices on behalf of corrupt yet influential personnel throughout the world.

      The ridiculous aspect is that it’s not even the largest law firm in the world. It’s the 4th largest. Imagine what a treasure trove the largest 3 might be hiding.

      • Waqas

        how about hacking of swiss companies :D

      • Bilal Iqbal

        Titanic of wealthiest brought down by a hacker….lol

  • Raja Maja

    Syed Talal, is an IT new or what………………

    • Bilal Iqbal

      ((over 11.5 million documents and 2.6 Terabytes of data has been leaked from the databases of Mossack Fonseca))
      This segment relates to IT i think…. :p

    • Waqas

      its propakistani news. and I like good content at propakistan no matter from which category it is.

  • M Waseem Akhtar

    There is nothing illegal in setting up offshore companies. Every smart business individual does it to avoid tax. Please note that avoiding tax by using favorable laws is quite legal and even ethical. I fear the facebook will be flooded by posts of ignorant people who will start blame game using this news.

    • Stone

      when you say avoid taxes and then you note these idiots are running a campaign to get tax payers on board, how in the hell can it be ethical? more importantly here, the sources of such funding will be questioned when you prime minister actually pain Rs.5000 in taxes a few years ago all the while when his children were making millions and that too in Pound Sterling. You are no less ignorant than the people you so despise

    • Haisum Bhatti

      Yes nothing illegal in investing in new business. But if you study this case in detail, all these companies are bogus and turn black money white. On papers, it’s investment, in reality they just charge some commission and return all investment without actually doing any business.

      • M Waseem Akhtar

        British Virgin Islands is well known place for offshore companies. How you can say its bogus? All financial companies are on paper only… no need to setup manufacturing unit etc.

    • Stone

      Are you serious? At one hand these jokers are sending messages to the Pakistani people and on the other hand they are setting up off shore companies just to avoid tax. Even more importantly, the crook PM paid Rs.5000 in taxes while his children were making millions in pound sterling. How can people not draw comparisons? You are ignorant for not being able to relate this in the bigger picture

      • M Waseem Akhtar

        My father doesn’t pay tax of what I earn. How Nawaz Sharif file tax of what he doesn’t earn?
        I have heard a lot about tax (5000) of PM but never seen the tax return. Anyone having copy please share.

        • Usman

          Keya ap wohi hain jinhoon ne apni gari ke peechay plastic ka sher rakha hua hay?

          • PPAK

            nahe nahe yeh wo hein jo kagaz ka sher ko asli samjh ker naachty naachty behosh ho jatay hein :P

      • zain

        THIS ! nailed it man :D

    • viper_pk

      Actually …. evading tax through legal and ethical means is SMART… but disclosing sources of this income to setup such companies …. thats the tricky part :)

      • M Waseem Akhtar

        Such companies exit on places where local laws doesn’t require information regarding source of income… thats the smart part. Thats why Virgin Islands is known for lot of financial companies.

    • Waqas

      Yeah its convenient to say it. These jugglers loot poor in Pakistan and then launder money to offshore companies. I know they use legal ways but how being legal is not the definition of ethical by any mean.

      What a joke this nation is. what a shame their selection is. blinds, mutes, deafs

      • M Waseem Akhtar

        Just to share an example, if you make some investment in mutual funds you can claim some reduction in income tax.
        Now thats not fraud or evasion of tax, its reduction of tax by smart investment. You can find more by visiting your tax consultant.
        OR
        You can keep saying all politicians are corrupt and all with boots are saints……

        • Waqas

          Your behaviour is bigotry.I never mentioned any boots or whatever. You’re just taking it on your nerves.

    • Muhammed Ovais Alam

      Legal and ethical?
      Are you even sane? (let alone a normal human being).

      • sibzz

        clearly this guy is a lawyer, you guys cant win against him :P

    • Khan

      Waseem Akhtar there is nothing illegal is setting offshore companies because Laws n legalities are made by these rulers.. When u send capital outside Pakistan you are sinking your economy. It destroys your economy.. I would suggest please study agriculture tax tariff in Pakistan.. you will understand why Landlords sitting in assemblies make such low tax tariff on agricultural lands..

  • KaKa

    :)

    • M Waseem Akhtar

      Please be productive in your comments. You can share details if you have any.
      Every businessmen is using tactics to reduce taxes. I know lot of business individuals who have registered side firms to reduce taxes irrespective of religion or political affiliation.

      • PPAK

        People like u give these corrupt leaders the tech/legal reasons to do whatever benefits them.
        Bhai sab, after these revelations, “Morally” PM and his tolla can not ask Pakistani people to pay their tax honestly. Also they can not ask foreigners to come invest in Pakistan, that is “IF” these offshore companies started with white money at first place.
        So its not a question of what is technically/legally possible but what is morally the right thing to do as these people hold public offices and hence the trust of masses.

  • umer

    Miss Mariam Nawaz you’re are next pm of Pakistan a conspiracy has been hatched to derail Miss Maryam Nawaz reputation before next election.

    • BADAR

      You are right.

  • Sleepless

    So what we knew all along… that our elite are hiding their wealth in offshore companies while taxing the common man to the point of starvation. This tactic might be legal but it is immoral and unethical.
    And as usual, nothing will come out of it. It will be interesting to see if Maryam Nawaz or any other person have declared their shareholdings in their annual return. If not, would the PM please ask FBR to take action against his own family members and other on this list. Time to show your true character Sir.

  • BADAR

    Everybody have right to do whatever they want. Its their money they are business man. Its upto them to make property in Pakistan or outside Pakistan.

    • Bilal Bajwa

      I am #speechless on this worst comment ever.
      Open eyes, read thread again lol

      • Muhammad Abrar Naeem

        Yehi to wo log hain jo qeemay waley naan kha k vote detey hian.. in ko har cheez saaf suthri nazar ati hia

    • Muhammed Ovais Alam

      Another ignorant person spotted.
      Why WE are PAYING taxes then?

      • BADAR

        Its our responsibility and duty to pay taxes. As we are payinbg Zakat. Its a must thing

        • KMQ

          Wah Badar bhai, humare liye responsibility aur unke liye woh jo chaheen karain. Kia yeh khula tazaad nahi.. :-D

          • BADAR

            tazaad beshak hai per woh jo chahekar sakte hain un ki marzi . ap bhi mujh se likhwalo agar ap ko prime minister bana diya jaye to aap bhi yeah hi kro gay.

            • PPAK

              Laayen je papers likhwain in sey
              innoh ney PHD ker le hey logon ke mentality pey
              “Everyone is a mirror image of yourself, your own thinking coming back at you.” — Byron Katie

            • KMQ

              Matlab tax is for poor only and if you are PM tu aap ko us se istasna hasil hai? yeh kehna chah rahe ho aap?

              • BADAR

                Ap agar ban gaye to kiya ap nhi kro gay?

        • Muhammed Ovais Alam

          Zakat is a mandatory thing in Islam. Tax is a different thing.

          When a law is created, it was meant to be APPLIED on EVERYONE NOT for the ghareeb awaam only.

        • PPAK

          Darbari mentality !!!
          Absolutely no sense of Democratic system at all.

  • Muhammad Abrar Ali

    Now it should be taken to court :/

  • Muhammad Aasim

    Lannat ho Inn Sub kutton p

  • Rizwan

    These money sucker corrupt politicians will NEVER stop sucking blood from poor people of the country! They can’t take this money into their graves!

    In fact they’ll be answerable to Allah for every single penny they looted! Phir waha chala k dikhaey apni power & position ka jadoo! Yehi paisa in k lie azaaab baney ga.

    Beshak Allah sab se bara insaaf karne wala hai.

  • Hashim N

    For those of you who think these are just offshore businesses….
    https://youtu.be/F6XnH_OnpO0

  • papaKapapa

    Apart from all the leaks hype you people should give credit to the source of video as this is not your own content.