World Bank President Jim Yong Kim said Thursday he is “extremely concerned” about the widespread creation of offshore companies by wealthy people around the world to evade taxes, saying it takes large sums away from governments who need the money to fight poverty.
Kim told a news conference in Washington he was distressed by the scope of the offshore accounts as disclosed in the Panama Papers, a recent report by investigative journalists based on a massive leak of documents from the Panamanian law firm Mossack Fonseca that for decades has helped create the companies across the globe.
“If you’re taking …read more
Source: Magazetini
