Panama Papers net Mexican tax man $21 million
MEXICAN TAX officials have retrieved $21 million from customers of Panama law firm Mossack Fonseca who were identified in an investigation coordinated by the International Consortium of Investigative Journalists (ICIJ).
According to the government agency, the funds came from 52 individuals who were identified as clients of the firm by media reports of Mossack Fonseca, whose files were leaked to a German newspaper in February 2015 and subsequently shared with the ICIJ.
they became known as The Panama Papers.
In September, similar revelations have identified thousands of people in The Bahamas Papers.
Most of the money was turned over voluntarily to avoid criminal prosecution.
The agency has also initiated dozens of investigations.
The Mossack Fonseca files showed that individuals and companies from around the world used the firm to create shell companies, which in some cases were used to hide taxable income.
The firm has denied it broke any laws.
According to the agency, the funds came from 52 individuals who were identified as clients of the firm by media reportsm, Its files were leaked to a German newspaper in February 2015 and subsequently shared with the ICIJ.
Most of the money was turned over voluntarily to avoid criminal prosecution. The agency has also initiated dozens of investigations.
The Mossack Fonseca files showed that individuals and companies from around the world used the firm to create shell companies, which in some cases were used to hide taxable income.
