Panama Papers Icelandic prime minister under pressure to resign

Gunnlaugsson asserted that he would not resign after the document revealed that he purchased the offshore company Wintris Inc. in the British Virgin Islands in December 2007 with his partner, now wife, through the law firm Mossack Fonseca, based in Panama.

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As protesters gathered in front of Icelandic parliament yesterday to ask prime minister Sigmundur David Gunnlaugsson to resign, opposition parties called a vote of no confidence for later this week. play

Prime Minister Sigmundur David Gunnlaugsson

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The Panama papers which revealed how the world richest stash their money in tax havens has put Iceland Prime Minister under pressure to resign.

READ MORE: 15 facts you may have missed about the Panama Papers

As protesters gathered in front of Icelandic parliament yesterday to ask prime minister Sigmundur David Gunnlaugsson to resign, opposition parties called a vote of no confidence for later this week.

Gunnlaugsson asserted that he would not resign after the document revealed that he purchased the offshore company Wintris Inc. in the British Virgin Islands in December 2007 with his partner, now wife, through the law firm Mossack Fonseca, based in Panama.

He decried the leaked report and said it was a witch hunt against him and his wife.

“She (Palsdottir) has been adamant to pay taxes on it (Wintris) to the Icelandic society rather than saving money by paying taxes abroad. “She has neither utilised tax havens nor can you say that her company is an offshore company in the sense that it pays taxes abroad rather than in Iceland,” Gunnlaugsson said on his website.

He stormed out of an interview yesterday with Swedish public broadcaster SVT, accusing the journalist of obtaining the interview "under false pretenses", and subsequently issued a joint statement  with his wife about the "journalist "enthronement" in their private lives.

READ MORE: What to know about the Panama report

He maintained they did nothing wrong.

A former prime minister, Jóhanna Sigurðardóttir, said Gunnlaugsson should resign because he had “expressed a distrust of the currency and the Icelandic economy by putting money in a tax haven.”

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