After the Panama Paper leaks, there is turmoil all around the world, and the after results can be very clearly seen. In the matter of Panama Paper leaks, Iceland Prime Minister Sigmundur Gunnlaugsson who was always facing pressure on the issue has resigned from his position. Apart from this, Iceland Prime Minister Sigmundur Gunnlaugsson also requested to dismiss the assembly in front of the President.
Iceland Prime Minister Sigmundur Gunnlaugsson was blamed for severe charges on the matter of Panama Paper leaks. It was blamed that Iceland Prime Minister Sigmundur Gunnlaugsson with his wife started a foreign company in 2007 where he invested billion dollars illegally.
On Monday, the resignation of Iceland Prime Minister Sigmundur Gunnlaugsson was demanded where large groups of people protested. After that, Iceland Prime Minister Sigmundur Gunnlaugsson suggested President dismiss the Assembly, and after that, he resigned from his position.
The sensational news of leaks of tax document of the Panama-based law firm, Mossack Fonseca created high tensions in various parts of the world. Iceland was one of these areas. The major role in Panama Paper leaks was played by I.C.I.J, a group of investigative journalists. The Panama Paper leaks pointed out many Indians including Veteran actor like Amitabh Bachchan, Aishwarya Rai Bachchan, Cricketers, Politicians, etc. who were illegally investing in the companies so that they could escape from taxpaying. These companies were registered in their names and were situated in Tax heaven countries like Panama, Bahamas, British Virgin Islands, etc.
The confidential Panama documents that were leaked on a large scale reveal how rich and powerful people evade taxes on order to hide their wealth and use those ways that helps them to pay much lower taxes. One of most confidential works were operated by the Panama-based law firm Mossack Fonseca. There were more than one crore ten lakhs documents that were leaked from Mossack Fonseca. From the documents, it was revealed that how Mossack Fonseca helps its client to make their black money white, save them from violations and tax evasion. Mossack Fonseca said that it is operating for 40 years and no one has ever pointed a finger on them.