a year later, is the offshore dealings of the global elite. The use of an offshore company to move money or buy property is not necessarily dodgy; a billionaire may mask a purchase made with legitimate wealth for privacy reasons. But shell companies registered in palm-fringed offshore centres are often used to avoid or evade tax, or to launder ill-gotten gains.
Denis Healey, a former British chancellor of the exchequer, once described the difference between tax evasion and avoidance as “the thickness of a prison wall”. Both grew in line with financial globalisation in the late 20th century. Evasion became easier with the explosion of tax havens, which was tacitly approved by rich countries that saw them as useful adjuncts to their own financial centres.
The pushback against such ruses began in the late 1990s, when the Organisation for Economic Co-operation and Development , a rich-country forum, declared war on “harmful tax competition”. It has waxed and waned since then, reaching a new level of intensity since 2008 as cash-strapped countries, both rich and poor, have fought harder to claw back lost tax revenues—witness America’s. Tax havens have, under intense pressure, agreed to exchange more information on clients with their home countries.
Reform of the international rules for companies has proved trickier, but consensus on a way forward does at last appear to be forming. Some 140 countries and territories, including all of the big economies, arethat would see taxation more closely aligned with where sales are made, and a minimum global tax rate of 15%. However, it is too much to expect the closure of all the loopholes, and new ones are sure to open up.
Pandora Papers is a list where I would not mind to be. Unfortunately never had the money nor need to hide it from Tax Man 😎
Jacob_Rees_Mogg andrealeadsom husband and brother in law named on Wikipedia PandoraPapers PandoraLeaks
I warn every greedy rich people on this planet - FB, Tweeter, YouTube or Google - these digital electron based reality is instantly vanishing reality. Don’t invest on these fictional values, you could lose everything within hours. See how FB share price is sinking like Titanic!!
Semoga semua pejabat2 di negara kita taat BAYAR PAJAK. Aamiiin🙏🙏 jokowi mohmahfudmd KemenkeuRI kemenkomarves airlangga_hrt
Nothing ever comes of it. The crooks have already moved their money. They will never go to jail. Why bother. It is a game for the super-rich and we are the pawns in their game.
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