Now the world is buzzing about the Paradise Papers, but in 2016, the leak of 11.5 million documents from a Panamanian trust firm revealed an elaborate financial architecture set up to hide vast amounts of wealth and income from sovereign tax collectors. The Panama Papers provided information on more than 200,000 offshore entities and their role in shielding assets. Researcher Willem Pieter De Groen pulls back the curtain on the intricate designs of these legal structures and how they affect nations’ fiscal conditions. getAbstract recommends this authoritative report to business and policy professionals intrigued by the complex landscape of overseas entities that enable tax evasion.
In this summary, you will learn
- What the Panama Papers exposed about offshore tax entities,
- How advisers and go-betweens play an outsized role in the creation of these vehicles, and
- How sovereign officials can combat tax evasion.
About the Author
Willem Pieter De Groen is a research fellow at the Centre for European Policy Studies.