I am just like most people I pay my tax and to be honest I don't mind paying what I owe as we get schools and education, healthcare, roads and social security for those that need it. I have, however, for a long time sort of realised that this is not an even playing field. I know that some of the wealthy manage to avoid paying what they owe through dodgy offshore companies and operations. This is why the release over 11 million papers from the law firm Mossack Fonseca is great news LINK1. The papers appear to include emails, bank records and client information dating back around 40 years. As well as many wealthy they seem to implicate many politicians and their associates from across the world. Some are not surprising Putin - Russia, Asad-Syria, Gaddafi-Libya, Mubarak - Egypt but there will be many more as well.
It seems that Mossack Fonseca has been working with many major banks in helping to set up dodgy offshore companies that enable some of the super wealthy to avoid tax and for dodgy money laundering to happen. This is certainly a huge scandal and I hope many of those involved lose lots of sleep and eventually get their comeuppance. It could also mean big problems for Panama which is one of the last big tax havens. I expect this story it is going to run for quite some time and hopefully many will end up having to cough up big fines and in some cases long jail sentences. The international consortium for investigative journalism has set up an excellent guide to the panama papers here is the LINK2 the Fusion.net website has nice coverage of this story LINK3
It seems that Mossack Fonseca has been working with many major banks in helping to set up dodgy offshore companies that enable some of the super wealthy to avoid tax and for dodgy money laundering to happen. This is certainly a huge scandal and I hope many of those involved lose lots of sleep and eventually get their comeuppance. It could also mean big problems for Panama which is one of the last big tax havens. I expect this story it is going to run for quite some time and hopefully many will end up having to cough up big fines and in some cases long jail sentences. The international consortium for investigative journalism has set up an excellent guide to the panama papers here is the LINK2 the Fusion.net website has nice coverage of this story LINK3
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