IMF chief talks Panama Papers fallout: time to 'think outside box' on global tax

Issue is back in the spotlight after massive leak, but Christine Lagarde warned that a proposal by Oxfam to establish a UN global tax body faces obstacles

The head of the International Monetary Fund (IMF) has said it is time to "think outside the box" on global tax but warned that a proposal by Oxfam to establish a UN global tax body faces huge obstacles.

The British-based charity first put the idea forward last year, arguing that powerful countries write the rules on tax and take advantage of loopholes and offshore tax havens. It suggested that an independent entity could give everyone - rich and poor - an equal say.