Leaked financial records expose world leaders for avoiding taxes
By: Rawan Alshehri
Investigations have exposed another massive financial tax haven for the super wealthy and heads of states. The Pandora Papers recent leak includes some of the most powerful names in the world. From the of King of Jordan, to former British Prime Minister Tony Blair and celebrities like Elton John, Ringo Starr and Shakira, along with a multitude of prominent business moguls.
The financial records have been leaked to journalists who have been investigating offshore tax havens for a years. They reveal how world leaders and criminal enterprises use a complex system to hide and launder money.
The Pandora Papers Contain
“• More than 11.9M confidential files
• More than 600 journalists
• 150 news outlets
• 2 years of reporting
“The Pandora Papers offer insights into why governments and global organizations have made little headway in ending offshore financial abuses.” Said the International Consortium of Investigative Journalists (ICIJ).
While it’s not necessarily illegal practice to have properties and bank accounts in other countries, it does raise important questions such as; Is it ethically acceptable for world leaders to be in the same category as criminal enterprises? Should they be able to avoid paying taxes while their citizens are suffering financially?