If you haven’t heard yet, the release of the so-called Panama Papers has revealed that top global leaders such as Russian President Vladimir Putin and Iceland’s prime minister may be using companies and other business entities created by a Panama-based firm as a way to avoid taxes or conceal wealth. It’s creating quite an uproar. Unsurprisingly, with very little evidence of actual illegality on the part of the law firm from which the documents were stolen—or most of its clients—the usual suspects are already calling for sanctions or dramatic and punitive changes to international tax laws, writes Veronique de Rugy.
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