Other offshore shell company transactions described in the documents do seem to have broken exchange laws, violated trade sanctions or stemmed from political corruption, according to ICIJ reporters.
For example: Estate planning is another example of legal tax avoidance.
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Prices are being artificially driven up by overseas criminals who want to sequester their assets here in the UK".
Andy Yan, an urban planning researcher and adjunct professor at the University of British Columbia, studied real estate sales in Vancouver—also thought to be affected by foreign purchasers—found that 18% of the transactions in Vancouver's most expensive neighborhoods were cash purchases, and 66% of the owners appeared to be Chinese nationals or recent arrivals from China.
While no standard official definition exists, The Economist and the International Monetary Fund describe an offshore financial center, or tax haven, as a jurisdiction whose banking infrastructure primarily provides services to people or businesses who don't live there, requires little or no disclosure of information when doing business, and offers low taxes.
Oxfam blamed tax havens in its 2016 annual report on income inequality for much of the widening gap between rich and poor.
Some media outlets covering the story have used the name "Mossack Fonseca papers".
In addition to the much-covered business dealings of British prime minister David Cameron and Icelandic prime minister Sigmundur Davíð Gunnlaugsson, the leaked documents also contain identity information about the shareholders and directors of 214,000 shell companies set up by Mossack Fonseca, as well as some of their financial transactions.
The journalists on the investigative team found business transactions by many important figures in world politics, sports and art. Since the data is incomplete, questions remain in many other cases; still others seem to clearly indicate ethical if not legal impropriety.
Some disclosures – tax avoidance in very poor countries by very wealthy entities and individuals for example – lead to questions on moral grounds.
Three holding companies set up by Mossack Fonseca now own the property, and are in turn held by trusts set up for his children and grandchildren.
Since Kubrick was an American living in Britain, without the trust his estate would have had to pay transfer taxes to both governments and possibly have been forced to sell the property to obtain the liquid assets to pay them.
Countries meeting none of these criteria, such as Panama, Vanuatu and Lebanon, would go on the blacklist.