Mercedes AMG PETRONAS F1 Team’s Nico Rosberg has been caught up in the so called ‘Panama Papers’ with his lawyer completing denying that the current Formula One championship leader is evading tax.
The German’s lawyer has denied claims in German media that Rosberg’s Mercedes contract is through a ‘letterbox company’ called Ambitious Group Limited.
Christian Schertz, who represents Rosberg commented by saying:
Contrary to some reports, our client has no letterbox company in Panama. It is true that a letterbox for Nico Rosberg was established in the British Virgin Islands by the firm Mossack Fonseca.
Schertz went on to explain the situation saying:
The sole reason for this was legal liability issues and the ability to act internationally, This facility has nothing to do with tax.
Rosberg’s lawyer confirmed that Rosberg who has driven for the Mercedes AMG PETRONAS F1 Team since 2010 is fully tax compliant making payments in Monaco where the German lives.
Rosberg is has had spectacular start to the 2016 Formula One season winning both the opening race in Australia and last weekend’s Bahrain Grand Prix and goes to the next race at the Shanghai International Circuit in China in a week and a half with a 17 point lead over team mate and reigning world champion Lewis Hamilton.