The Panama Papers leak has once again brought the issue of offshore jurisdictions, tax transparency and secrecy into the spotlight of the world’s mainstream media.

It has also led to Angel Gurría, secretary general of the OECD, issuing a statement in which he refers to Panama as “the last major holdout that continues to allow funds to be hidden offshore from tax and law enforcement authorities.” He goes onto say the OECD has been “leading a global crackdown on these practices since 2009, working hand-in-hand with the G20”.

"Through the Global Forum on Transparency and...