Bernie Sanders (click here) has warned that the world is rapidly becoming an “international oligarchy” controlled by a tiny number of billionaires, highlighted by the revelations in the Paradise Papers.
In a statement to the Guardian in the wake of the massive leak of documents exposing the secrets of offshore investors, Sanders said that the enrichment of wealthy individuals and companies in tax havens was “the major issue of our time”.
He said the Paradise Papers opened the door on a “major problem not just for the US but for governments throughout the world”.
“The major issue of our time is the rapid movement toward international oligarchy in which a handful of billionaires own and control a significant part of the global economy. The Paradise Papers shows how these billionaires and multinational corporations get richer by hiding their wealth and profits and avoid paying their fair share of taxes,” the US senator from Vermont said.
Sanders, who came in a close second to Hillary Clinton in the race for the Democratic presidential nomination last year, pointed the finger of blame for the flourishing of offshore holdings on both Congress and the Trump administration. He told the Guardian that Republicans in Congress were responsible for providing “even more tax breaks to profitable corporations like Apple and Nike”....
The Paradise Papers (click here) is a special investigation by the Guardian and 95 media partners worldwide into a leak of 13.4m files from two offshore service providers and 19 tax havens' company registries. The files reveal the offshore financial affairs of some of the world’s biggest multinational companies and richest individuals, and set out the myriad ways in which tax can be avoided using artificial structures.
Ireland was an offshoring tax haven? OMG.The Paradise Papers (click here) is a special investigation by the Guardian and 95 media partners worldwide into a leak of 13.4m files from two offshore service providers and 19 tax havens' company registries. The files reveal the offshore financial affairs of some of the world’s biggest multinational companies and richest individuals, and set out the myriad ways in which tax can be avoided using artificial structures.
November 7, 2017
Tech giant Apple chose the Channel Islands (click here) as a new haven to continue avoiding billions in taxes in the Paradise Papers show.
The company picked Jersey as an alternative after a 2013 crackdown on its controversial tax practices in the Republic of Ireland, they reveal.
Apple moved the firm holding most of its huge untaxed offshore cash reserve to the Channel Island, allowing it to avoid billions of tax around the world – but has insisted the secretive new structure had not cut its taxes....
