Phatshoane Henney Attorneys, a Bloemfontein based law firm, has been linked to more than 400 entities in the Panama Papers. A searchable database of the leaked documents, which is hosted by The International Consortium of Investigative Journalists (ICIJ), showed that Phatshoane Henney Attorneys has acted as an intermediary for 436 entities.
The firm told News24 in an e-mailed statement that all of their clients' investments in foreign companies "are in accordance with the applicable exchange control regulations which also require tax clearance certificates".
"Taxes are therefore paid, both in SA and abroad, as and when applicable in terms of the relevant tax legislation," said CEO, Jan Berry.
"We have always and are still advising clients investing significant amounts abroad, not to do so in their personal names in order to avoid various onerous administrative and cost consequences, especially in the event of death," he said.
He said Phatshoane Henney Attorneys are a "leading firm in the field of estate planning and administration and it is therefore expected that we will also have a sizeable number of clients investing abroad".
Phatshoane Henney Attorneys also defended its relationship with Mossack Fonseca, the firm that the 11.5 million confidential documents were leaked from. The leaked documents purport to show how clients hid billions in tax havens.
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