David Piccolo and Tax Chambers LLP

legitimate purpose: Such companies often have a legitimate purpose, but they can also be used as vehicles for, among other things, evading or avoiding taxes that a person would otherwise have to pay, according to NOW Magazine. David Piccolo, a tax lawyer and partner with Tax Chambers LLP, was kind enough to sit down for an interview to provide his thoughts on this matter:What are your thoughts on the leak Panama has notoriety in the tax world as being a place that protects privacy more than other jurisdictions. The leak revealed that the firm had spent decades helping wealthy people from around the world set up offshore shell companies. Once, it was thought that the Cayman Islands, Switzerland and other quote-unquote havens were thought of as jurisdictions that valued privacy. Panama has tried to maintain its secrecy, so there is a little bit of notoriety attached to Panama, because unscrupulous people know that the Panamanians will protect their secrecy. These jurisdictions have given up some of that privacy in recent years to get in line with the Organization for Economic Co-operation and Development crackdown on tax havens. (www.immigrantscanada.com). As reported in the news.