World Tax Officials Huddle in Paris to Talk Panama Papers

PARIS (AP) -
A marquee of the Arango Orillac Building lists the Mossack Fonseca law firm in Panama City, Sunday, April 3, 2016. German daily Sueddeutsche Zeitung says it has obtained a vast trove of documents detailing the offshore financial dealings of the rich and famous. The International Consortium of Investigative Journalism says the latest trove contains includes nearly 40 years of data from the Panama-based law firm, Mossack Fonseca. The company didn't immediately respond to a request for comment. (AP Photo/Arnulfo Franco)
A marquee of the Arango Orillac Building lists the Mossack Fonseca law firm in Panama City, April 3. (AP Photo/Arnulfo Franco)

Tax officials from around the world are meeting in Paris to discuss the fallout from the mass leak of offshore account data from Panama firm Mossack Fonseca.

A statement says Wednesday’s meeting of the Joint International Tax Shelter Information and Collaboration Network , an information and intelligence-sharing organ for senior tax administrators based out of the Organization for Economic Cooperation and Development, is being convened to “agree collaborative action in light of the ‘Panama Papers’ revelations.”

The Panama disclosures have shaken the rich and powerful by exposing how they use networks of shell companies to dodge financial obligations, taking tax evasion to the top of international agenda.

Few further details about the Paris event’s attendance or agenda were released. A spokesman said the meeting was closed to the media.