This is opinion letter. please give me your comment.
Panama Papers: Inside the shady world of tax havens
We
explore the impact of the Panama Papers and ask how much of the
wealth-management industry's work is perfectly legal.
The Panama Papers shocked the world
when a massive leak of 11.5 million tax documents exposed the secret dealings
of hundreds of thousands of people, including world leaders and celebrities,
and how they use shady financial mechanisms to avoid paying taxes and hide
their wealth.
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It's perfectly okay to arrange
your affairs in such a way that you pay as little tax as possible.
Stewart Patton, US tax attorney
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Linking at least 12 current and
former heads of state and 143 politicians to illicit financial transactions,
the documents revealed how Mossack Fonseca, a Panama-based law firm,
allegedly used banks, law firms and offshore shell companies, from 1977 to
the end of 2015, to help hide its clients assets.
While the disclosures have since led
to the resignation of one world leader, Sigmundur Davio Gunnlaugsson, the
Icelandic prime minister; the problem goes beyond mere individuals.
The Panama Papers have exposed that
most of the work Mossack Fonseca and the rest of
the wealth-management industry do is perfectly legal.
On this special edition of Counting
the Cost, we take a closer look at tax havens and the legality behind
them.
Alex Cobham, a director of research
at the Tax Justice Network, joins the programme to discuss
the loopholes that allow tax-dodging.
Stewart Patton, a US tax attorney
based in Belize City, discusses the possible fallout for tax havens following
the release of the Panama Papers.
We also speak to James S Henry,
a senior fellow at Columbia
University's Centre for Sustainable Investment, about the
absence of American billionaires and companies on the leaked list and how the
United States, the world's biggest economy, is surprisingly a top tax haven.
Source: Al Jazeera
Dear Editor
I was interested to read “Panama Papers: Inside the shady
world of tax havens” (Source: Al Jazeera/10 Apr 2016 15:29 GMT). I am concerned
about corruption in the world especially in Indonesia.
It’s okay for entrepreneurs to pay little tax as possible but
they should pay tax.
I think we should punish all entrepreneurs and take all their asset if it necessary in order to reduce corruption in this country.
S.To
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