Malawian names and companies appearing in milions of files from the so-called Panama Papers have been known by Nyasa Times and are now revealed with Asian business persons dominating to have placed their wealth in tax havens as forensic audit conducted by RSM Risk Assurance LLP of the UK covering 2009 to 2014 has traces businesses involved. In its […]
The Reserve Bank of Malawi (RBM) has disclosed that it duly approved Press Trust Overseas Limited, a subsidiary of Press Trust Corporation, to register in the tax havens of British Virgin Islands, Jersey and Channel Island. Press Trust Corporation is an organization established through an act of parliament and run by political elites and well […]
EDITOR’S NOTE:Panama Papers issue is ‘avoiding tax’ and not evading tax. Evade tax is when you don’t pay tax you owe. Avoiding tax when you use the legal structures to reduce your tax bills. So whilst it may have moral questions, it’s not necessarily illegal. The difference is between breaking the law, and not breaking […]
Malawi’s rich and powerful people, including former president Bingu wa Mutharika whom some sections of society had claimed he had offshore investments, are not among the world influential figures on the infamous Panama papers list. Some Malawians on social media were asking state prosecuting agencies to probe former president Mutharika after it transpired that he […]