Countries to Claim £300 Billion in Unclaimed Tax from Panama Papers Leak

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Jurisdictions from across the globe are seeking to claim back collectively over a billion pounds GDP in unpaid tax, that was made public knowledge as a result of the Panama Papers, the huge leak of tax-haven financial records that was made public three years ago last week.

The sum includes the equivalent of EUR €212 million collected in France, EUR €343 million in Spain, an estimated EUR €41 million in Iceland and almost EUR €660,000 in Lithuania, so far, with the total expected to grow. The UK’s revenue agency says it expects to recover the equivalent of GDP £300 million in back taxes and other fines.