Game for the Wealthy The Ongoing Battle against Tax Havens - Der Spiegel

The Paradise Papers offer only the most recent look into the widespread practice of tax avoidance. Governments around the world have taken steps recently to block such strategies, but it is unclear whether they will ultimately be successful.
Early this week, the financial world was rocked by the latest revelations about tax tricks used around the world by corporations and the super-rich. The leaks, which included 13.4 million documents and were labeled the "Paradise Papers," were the product of an international investigative consortium including journalists from influential German daily Süddeutsche Zeitung.

The cases uncovered are similar to those revealed in the previous leak, the Panama Papers, which triggered global outrage last year. The data describes how the rich and super-rich, international stars and companies try to avoid paying taxes in their home countries. It is a game for the wealthy.

The players are usually multinational corporations seeking to shrink their tax bill using convoluted structures. Tech-giant Apple once again stands accused of skullduggery, as does sporting-goods producer Nike. The accomplices are also largely the same. The deals in question invariably involve tax havens such as the Bermuda Islands, British dependencies such as the Isle of Man or Jersey, and European member states like the Netherlands, Luxembourg and Ireland.

The questions facing politicians are also the same ones that come up after every new substantial leak: How can we continue to tolerate a situation in which tax loopholes still haven't been closed? And why are EU member states still allowed to cheat their partners within the bloc out of tax revenues? - Read More

Game for the WealthyThe Ongoing Battle against Tax Havens