Australians with links to Panama Papers could be charged following raids this week

Author(s): Nassim Khadem | Date: September 6, 2016 | Language: English
Source: | URL: | Type: text

Australian tax advisers and their wealthy clients with links to the Panama Papers could be hit with criminal charges following raids this week, Tax Commissioner Chris Jordan says.
All up 1000 entities, involving hundreds of taxpayers – many of which include high-wealth individuals and their lawyers and accountants – are under investigation by the Australian Taxation Office.
The ATO raids this week come after AUSTRAC identified suspicious cross-border movement of funds between Australia and other countries involving $2.5 billion linked to over 1000 Australian entities identified in the Panama Papers.

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