Last year’s Panama Papers cost the leaders of Iceland and Pakistan their jobs. More than a dozen nations have changed their laws and the offshore law firm at the heart of the Panama Papers closed offices in tax havens. It is work that is both necessary and brave: one of the journalists involved in investigating the Panama Papers was blown up by a car bomb last month. The academic says 80% of all offshore cash is now owned by 0.1% of the richest households. Increasingly – and worryingly – the international profits of many corporations are showing up in tax havens.

Source: The Guardian November 06, 2017 19:41 UTC