Is there a shadow tax haven within the world’s most powerful financial centers?
Tax havens can be utilized by businesses to benefit from the low taxation rates for foreign investors. However, they can also be used to hide an individual’s personal wealth as well as tax avoidance. Through the work of the International Consortium of Investigative Journalists (ICIJ), close to 12 million documents, including emails, bank statements, and passport copies, have been leaked regarding the flow of money and property in this shadow economy. These documents, known as the Pandora Papers, expose the hidden financial affairs of the world’s ultra-rich, who have been…
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