Sri Lankans named in Panama Papers expected in May

Apr. 27, 2016 (LBO) – The International Consortium of Investigative Journalists said they will release on May 9th a searchable database with information on more than 200,000 offshore entities that are part of the Panama Papers investigation.

The data comes from the Panamanian law firm Mossack Fonseca, one of the top players in the offshore world, and includes information about companies, trusts, foundations and funds incorporated in 21 tax havens, from Hong Kong to Nevada in the United States, the ICIJ statement said.

“It links to people in more than 200 countries and territories,” ICIJ said.

Sources told Lanka Business Online that the names could be expected on May 9th.

Central Bank Governor Arjuna Mahendran speaking on Tuesday said that the authenticity of the documents will have to be established and an investigation will take place.

He said they was waiting for the names to is revealed, and they were in touch with partner organizations regarding this.

It is not yet clear whether the Panama Papers would reveal individuals who have minimized their tax liabilities in low-tax jurisdictions or those who have broken laws and avoided paying tax.

When the data is released, users will be able to search through the data and visualize the networks around thousands of offshore entities, including, when possible, Mossack Fonseca’s internal records of the company’s true owners.

The statement said that the interactive database will also include information about more than 100,000 additional companies that were part of the 2013 ICIJ Offshore Leaks investigation.


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