4 Apr 2016

New Zealand's role in massive tax haven leak

From Nine To Noon, 9:09 am on 4 April 2016

Millions of documents from a Panamanian law firm show how the world's rich and famous, including world leaders, hide their money offshore - including setting up foreign trusts in New Zealand to avoid paying tax. The papers reveal the Maltese Energy Minister Konrad Mizzi, and the Prime Minister's Chief of Staff, Keith Schembri, have set up trusts in New Zealand which under our laws do not have to pay any tax on their Panama income. The revelations have caused a political storm in Malta. Nine to Noon speaks to Malta Independent columnist Daphne Caruana Galizia. Professor Craig Elliffe from Auckland University's business school explains how New Zealand laws have allowed people overseas to use local companies to avoid paying tax.

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