The Economist (April 9)
“Many schemes described in the Panama papers involve anonymous shell companies, whose real owners hide behind hired ‘nominees’. Such vehicles are known as the ‘getaway cars’ for tax dodgers, launderers and crooked officials. It is time to untint their windows by creating central registers of beneficial ownership that are open to tax officials, law-enforcers—and the public.”
Tags: Anonymous, Beneficial ownership, Launderers, Nominees, Panama Papers, Registers, Shell companies, Tax dodgers
New York Times (April 6)
“The first reaction to the leaked documents dubbed the Panama Papers is simply awe at the scope of the trove” that includes some 11.5 million documents illustrating “how offshore bank accounts and tax havens are used by the world’s rich and powerful to conceal their wealth or avoid taxes.” That reaction quickly gives way to disgust and questions: “How did all these politicians, dictators, criminals, billionaires and celebrities amass vast wealth and then benefit from elaborate webs of shell companies to disguise their identities and their assets? Would there have been no reckoning had the leak not occurred?”
Tags: Assets, Bank accounts, Disgust, Offshore, Panama Papers, Powerful, Reaction. Leak, Rich, Shell companies, Tax havens
