/ 05 October 2021

Problems a’plenty for the prosperous

Image source: Unsplash
Image source: Unsplash

Another vast trove of leaked documents suggests rich and famous people continue to go to great lengths to hide their wealth and avoid paying taxes. To get a handle on the Pandora Papers, let’s start with the numbers. There’s much more information than was in similar leaks like the Panama Papers (2016) and the Paradise Papers (2017). It includes 6.4 million documents, almost 3 million images, more than a million emails and almost 500,000 spreadsheets. And the info reveals networks of “offshore” companies set up in tax haven countries like Panama, Switzerland and the Cayman Islands to hide money and assets. More than 600 journalists in 117 countries have been going over the leaked information for months, and what they found are some big names. And this time around, an Aussie accountant and 400 local clients are accused of being part of it. You can bet the Tax Office is on to that…

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