Arab Today, arab today british pm releases tax summary amid offshore row
Last Updated : GMT 14:11:20
Arab Today, arab today
Arab Today, arab today

In a bid to head off a row

British PM releases tax summary amid offshore row

Arab Today, arab today

Arab Today, arab today British PM releases tax summary amid offshore row

British Prime Minister, and leader of the Conservatives, David Cameron
London - Arab Today

British Prime Minister David Cameron on Sunday released his tax details in a bid to head off a row over his father's offshore business, and announced a new taskforce to scrutinise the so-called Panama Papers.

Hundreds of demonstrators rallied outside Cameron's office Saturday calling for his resignation after he finally admitted to having held shares in his late father's Bahamas-based investment fund, which cropped up in the documents leaked from Panama law firm Mossack Fonseca.

Cameron took the unprecedented step of publishing a summary of his tax returns over the past six years, and revealed that he had received a £200,000 ($280,000, 240,000 euros) gift from his mother, on top of the £300,000 inheritance from his father.

It is likely to raise further questions about whether the gift from his mother came in part from offshore funds.

The prime minister admitted on Saturday it had "not been a great week", and that he "should have handled" the situation better, having at first said it was a private matter.

"I know there are lessons to learn and I will learn them.

"Don't blame Number 10 Downing Street or nameless advisers; blame me."

The revelations appeared to have undermined Cameron's claims to be spearheading a global clampdown on offshore havens.

But the prime minister on Sunday insisted Britain was at the "forefront of international action to tackle aggressive tax avoidance and evasion" with the announcement of the £10 million taskforce, according to a statement from the Treasury.

The force will be led by the HMRC tax authority and the National Crime Agency, and will investigate the leaked files from Mossack Fonseca to identify clients suspected of money laundering and tax evasion.

Cameron admitted on Thursday that he and his wife had held a stake in his father's Blairmore Holdings scheme. They bought the stake for £12,497 in 1997 and sold it for £31,500, four months before he became prime minister in 2010.

Protesters, many wearing Panama hats and some carrying signs reading "Eton's Mess", in reference to the exclusive school attended by Cameron, and "What goes in Panama does not stay in Panama", marched from Cameron's central London office to Trafalgar Square on Saturday, bringing traffic to a halt.

The revelations in the Panama Papers, resulting from what the law firm blamed on a computer hack launched from abroad, revealed how the world's wealthy stashed assets in offshore companies.

- Demonstration in Iceland -

Meanwhile, a major anti-government rally attracted thousands of protesters in Iceland on Saturday, the sixth consecutive day of protests since the document leak.

The leak has already claimed the scalp of prime minister Sigmundur David Gunnlaugsson following revelations that he and his wife owned an offshore company in the British Virgin Islands and had placed millions of dollars of her inheritance there.

The issue is particularly sensitive in Iceland following the 2008 collapse of the nation's three main banks, which plunged the country into a deep recession and left thousands mired in debt.

In Panama, President Juan Carlos Varela said Friday that France's decision to put the central American country on its list of tax havens in the wake of the revelations was "wrong".

"The decision taken by France's government is a wrong and unnecessary step, even more so given the communication between both heads of state and the fact the world needs multilateral cooperation from all countries to tackle global problems," he told reporters.

He added that his finance minister, Dulcidio de la Guardia, would travel to Paris on Tuesday to stress that Panama was a country that was "dignified, respectful and open to dialogue", as well as one committed to greater transparency.

Police on Friday raided the El Salvador offices of Mossack Fonseca, netting "a good amount of computer equipment", the country's state prosecutor's office said on its Twitter account.
Source: AFP

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today british pm releases tax summary amid offshore row Arab Today, arab today british pm releases tax summary amid offshore row

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 09:55 2017 Monday ,20 February

Thailand 2016 growth up but below junta target

GMT 09:29 2017 Monday ,20 February

Kraft Heinz withdraws bid for Unilever

GMT 09:22 2017 Monday ,20 February

China's huge debt poses big headache for central bank

GMT 18:23 2017 Sunday ,19 February

Darwesh vows to provide job opportunities for youth

GMT 12:10 2017 Sunday ,19 February

Welcomes the F&B solution of the future

GMT 10:06 2017 Friday ,17 February

South Korea's Hanjin Shipping declared bankrupt

GMT 09:26 2017 Friday ,17 February

Samsung's history tainted by run-ins with the law
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday