The Panama Papers
Apparently, in an unexpected twist, leaked documents from a large law firm in Panama revealed that the firm managed an extensive network of offshore firms to help a lot of rich people hide their money from being taxed or other scrutiny.
Apparently what they did is not even technically illegal, it's just a convenient way to avoid being taxed or to do business indirectly without exposing your name (which may be illegal in some cases, just having the account is not).
http://www.theguardian.com/news/2016...money-offshore
https://panamapapers.icij.orgThe hidden wealth of some of the world’s most prominent leaders, politicians and celebrities has been revealed by an unprecedented leak of millions of documents that show the myriad ways in which the rich can exploit secretive offshore tax regimes.
[...]
Though there is nothing unlawful about using offshore companies, the files raise fundamental questions about the ethics of such tax havens – and the revelations are likely to provoke urgent calls for reforms of a system that critics say is arcane and open to abuse.
https://projects.icij.org/panama-papers/power-players/
So should this just be an ethically accepted practice because otherwise the poor people would rip off the job creators or should something be done about it and if yes, what?
Reply With Quote
Bookmarks