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Reaction to the Panama Papers

NZ NewswireNZ Newswire 9/05/2016

THE PANAMA PAPERS HAVE BEEN RELEASED, HERE'S HOW KEY PLAYERS ARE REACTING

* "New Zealand is functioning as a tax haven" - Nicky Hager, a journalist researching the papers.

* "Just because Nicky Hager says it is, doesn't mean that is the case ... New Zealand is not a tax haven." - Prime Minister John Key.

* "Mossack Fonseca actively encouraged a massive number of people to put their money in New Zealand secret trusts - this country is at the heart of its tax avoidance plans" - Labour leader Andrew Little.

* "Leaked documents from Mossack Fonseca demonstrate that New Zealand has become an integral part of the global tax avoidance network" - Green Party co-leader James Shaw.

* "We know how we regard other countries traditionally labelled tax havens - it is more than a little galling to think New Zealand might now be regarded in the same light" - United Future leader and former revenue minister Peter Dunne.

"I don't see New Zealand as a tax haven. I would describe it as a high quality jurisdiction for trusts with a benign tax system in certain circumstances" - Roger Thompson, head of Bentleys, the firm that is Mossack Fonseca's agent in New Zealand.

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