Government should act on corporate service providers in wake of Panama Papers - Uni Sydney expert

CORPORATE services providers that establish companies in tax havens on behalf of their clients should be subject to Australia’s strict anti-money laundering laws, according to an expert in transnational corporate crime at the University of Sydney Business School.

David Chaikin, an associate professor in business law, was commenting on the so-called leaked Panama Papers through ABC-TV's Four Corners program broadcast on April 4, which revealed the extensive use of tax havens to hide personal and corporate wealth.

“Governments both Labor and Coalition, have long failed to effectively apply Australia’s anti-money laundering laws,” Dr Chaikin said.

"The Panama Papers should encourage the government to apply Australia’s laws to corporate service providers that deal with tax havens on behalf of their clients.”

www.sydney.edu.au

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