ALJAZEERA: …A new report has now revealed that some of the world’s richest people have more than $30 trillion stashed in offshore tax havens…
Tax loopholes and tax havens are exploited by multinationals and the super-rich to avoid paying high taxes. If tax evasion is a crime, tax avoiders aim to pay the minimum possible without breaking the law.
John Christensen, an economist with the Tax Justice Network, an organisation fiercely critical of tax havens, told Al Jazeera: “In many cases it’s the politicians and their cronies and their families and the business people who sponsor the political parties who are using these offshore financial services so they got no personal interest in closing it down. If they wanted to close it down they could do it tomorrow… (more)
