For as long as companies and individuals hide their wealth in offshore firms, developing countries will continue to lose money that could provide basic public services to help lift people out of poverty, experts say.
On Sunday night, 11.5 million secret documents, alleged to be connected to Panama-based law firm Mossack Fonseca, were leaked after an anonymous source passed them to the German newspaper, Süddeutsche Zeitung, which shared them with the International Consortium of Investigative Journalists (ICIJ).
The files show the myriad ways that the rich can exploit secretive offshore tax regimes.
A host of celebrities, British politicians and the global …read more
Source: Newsweek
