Cameron releases tax records, sets up taskforce to probe tax evasions

uni1460287928{BNN} – LONDON, U.K. – In a bid to calm protestors demanding his ouster after the Panama Papers were leaked, U.K. Prime Minister David Cameron has now published his tax records.

Cameron, who had recently made a statement claiming he had botched the handling of the Panama row over his finances, said that he was publishing the information to be “completely open and transparent” about his financial affairs.

Questions regarding his personal wealth were thrown open in the public domain after he admitted to have benefitted from his late father’s offshore fund that found a mention in the Panama Papers.

Reports specified that the documents disclosed by Downing Street from RNS Chartered Accountants, show Cameron paid tax of 75,898 pounds on income of 200,307 pounds in the 2014-2015 financial year, the most recent one included. The confidential details revealed his tax records for the past six years.

The tax documents reportedly mentioned that his income comprised his 140,522 pound salary, taxable expenses of 9,834 pounds, 46,899 pounds from half of the share of rent from his family home in London and 3,052 pounds in interest on savings

However, protests increased after documents revealed that Cameron had been given a 200,000 pounds gift by his mother following his father’s death – which reports claimed could potentially avoid inheritance tax.

Soon after, Cameron also set up a new taskforce, that would be jointly led by Britain’s tax authority and National Crime Agency, to build on the work Britain has done to tackle money laundering and tax evasion.

Cameron said in a statement, “The U.K. has been at the forefront of international action to tackle the global scourge of aggressive tax avoidance and evasion, and international corruption more broadly. There is clearly further to go and this taskforce will bring the best of British expertise to deal with any wrongdoing relating to the Panama Papers.”

The government reported that it had tracked down 2 billion pounds from offshore tax dodgers since 2010, and authorities were already investigating 700 current leads with links to Panama. It added that the taskforce will receive 10 million pounds of funding to start work.

Even though Cameron is not accused of having done anything illegal, the June 23 referendum to decide if Britain should stay in the European Union looms large over his party that is split in opinion.

Meanwhile, thousands gathered at the protest outside Downing Street calling for Cameron’s resignation and #ResignCameron soon started trending on social media too.

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About Cholo Brooks 17148 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.