'Incredibly easy': Pandora papers reveal simplicity in taking advantage of tax havens

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In light of a bombshell report that exposed the tax havens used by the world’s elite, new focus has emerged on how easy it is to create a trust or shell company that can shield the owner from taxes.

published on Sunday by the International Consortium of Investigative Journalists

“This is where our missing hospitals are,” Susana Ruiz, Oxfam International’s tax policy lead, said in the statement. “One of the implications really that we expect is that there will heightened focus not just on these people, not just on these individuals, on the enablers, the professional firms and other companies that really help direct this offshore economy,” Hallman said.

While tax haven countries have typically been associated with tropical destinations -- such as Panama or the British Virgin Islands -- Hong Kong, Belize and the United States are also among the popular locales for the world’s rich and famous to hide their wealth.

 

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