Governments around the world lose about £100 billion in revenues every year because of profit shifting to tax havens.
The latest leak shines a light on how the world’s elites exploit the offshore world.
Pressure is growing on cabinet ministers and senior politicians to release their tax returns as David Cameron attempts to deflect public interest away from his own financial affairs.
Labour has accused David Cameron of hypocrisy over his admission that he invested £30,000 in his father’s Panama-based fund Blairmore Holdings Inc.
Vladimir Putin has denied “any element of corruption” over the use of offshore financial services by those in his inner circle, and said the leaks were an attempt by his political opponents to destabilise Russia.