COPENHAGEN: Denmark has received data leaked from a Panamanian law firm that helped customers open offshore companies to avoid paying taxes, authorities said on Thursday, adding they paid nearly six million kroner ($902,500) for it.

Jim Soerensen, an official with the Danish Customs and Tax Administration, said they “were given permission on Sept 9 to run through the material before we paid”.

Soerensen said they now will “go deeper” to see whether people in the documents should be investigated for tax dodging. “I can’t speak on behalf of other countries, but I can say that we in Denmark are open about what authorities here do,” he said.

“Contact with the anonymous source was made through another country.” He declined to name the source or the country, but said contacts were made via encrypted text messages.

The taxation authorities had received information containing legal documents, agreements and correspondence, he added. “If we find any information that regards another country, we will pass on that information as international agreements say,” Soerensen said.

Earlier this month, the Danish authorities said they had received an anonymous offer to acquire data from the so-called “Panama Papers” that could involve up to 600 people. At the time they didn’t disclose the price.

Soerensen said $706,960 were paid directly to the source and $180,500 in taxes on the transaction, which he said was made “recently”.

A majority in Denmark’s Parliament had supported buying some of the documents, although it was not clear how many lawmakers backed the plan as there had been no public vote in the assembly.

The Panama Papers, which consist of records on 11.5 million offshore holdings, were originally leaked to a German newspaper, which shared the data with a global network of investigative journalists, leading to a series of media reports in April.

In May, the journalists made the names of 200,000 offshore entities available in a searchable database. The repercussions of the leak have been far-ranging. The uproar led to the resignation of the prime minister of Iceland, and brought scrutiny to, among others, the leaders of Argentina and Ukraine, Chinese politicians, as well as Russian President Vladimir Putin and his friends.

Published in Dawn, September 30th, 2016

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Afghan puzzle
Updated 28 May, 2024

Afghan puzzle

Unless these elements are neutralised, it will not be possible to have the upper hand over terrorist groups.
Attacking minorities
28 May, 2024

Attacking minorities

Mobs turn into executioners due to the authorities’ helplessness before these elements.
Persistent scourge
28 May, 2024

Persistent scourge

THE challenge of polio in Pakistan has reached a new nadir, drawing grave concerns from the Technical Advisory Group...
Mercury rising
Updated 27 May, 2024

Mercury rising

Each of the country's leaders is equally responsible for the deep pit Pakistan seems to have fallen into.
Antibiotic overuse
27 May, 2024

Antibiotic overuse

ANTIMICROBIAL resistance is an escalating crisis claiming some 700,000 lives annually in Pakistan. It is the third...
World Cup team
27 May, 2024

World Cup team

PAKISTAN waited until the very end to name their T20 World Cup squad. Even then, there was last-minute drama. Four...