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Pakistan’s Supreme Court hears PM’s Panama Papers reply

Days before the hearing, Imran Khan, a former cricketer turned opposition party leader, called off a planned protest and organized instead a “thanksgiving” rally on Wednesday to celebrate the court’s decision to take over the Panama Papers commission. Thousands of Khan’s supporters reveled in the streets of Islamabad.

Pakistani commentators and media gave differing accounts of the week’s events, with some declaring the cancellation of the protest a victory for Sharif’s government after days of clashes, arrests and roadblocks in the country’s capital.

Pakistan’s government and opposition parties have been locked in dispute about the response to the Panama Papers since April. The two sides had failed to agree on the terms of reference for a judicial commission proposed by the government two days after the Panama Papers were released.

Elsewhere, the United Kingdom’s tax office disclosed recently that it had identified 40 wealthy Britons from the Panama Papers data. The tax office’s fraud investigation service and high net worth unit will assess the individuals and consider civil and criminal investigations if necessary, according to Her Majesty’s Revenue and Customs.

In Germany, the Finance Minister, Wolfgang Schäuble, announced new legislation – reportedly dubbed the “Panama law” within government—that requires Germans to disclose their business dealings with offshore companies.

In Armenia, the Special Investigative Service confirmed the ongoing investigation of Mihran Poghosyan, the former Chief Compulsory Enforcement Officer, who resigned following revelations of an offshore company.

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