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Paradise Papers revealed 'commoditisation' of tax avoidance
Source: The Guardian
Paradise Papers revealed 'commoditisation' of tax avoidance
Australian Taxation Office says investigation of data leak has identified 731 individuals and 344 corporate entities so far
Gareth Hutchens
Mon 15 Jan 2018 17.00 GMT Last modified on Tue 16 Jan 2018 01.01 GMT
The Paradise Papers have helped to reveal a global industry of tax avoidance packages that are offered to wealthy individuals much like holiday packages, the Australian tax authorities say.
The Paradise Papers have also revealed how offshore tax providers have expanded dramatically since the financial crisis, growing super-sized networks of accountants, lawyers and tax specialists that dwarf similar networks from a decade ago.
Mark Konza, deputy commissioner at the Australian Taxation Office, said: “These (leaks) send a clear message to those people who are involved with these types of service providers: if you’re getting involved in any arrangement that relies on secrecy then you can’t rely on secrecy.
“What we’re seeing (increasingly) is there are ordinary people who are becoming sick of some of the things they see happening.”
-snip-
Australian Taxation Office says investigation of data leak has identified 731 individuals and 344 corporate entities so far
Gareth Hutchens
Mon 15 Jan 2018 17.00 GMT Last modified on Tue 16 Jan 2018 01.01 GMT
The Paradise Papers have helped to reveal a global industry of tax avoidance packages that are offered to wealthy individuals much like holiday packages, the Australian tax authorities say.
The Paradise Papers have also revealed how offshore tax providers have expanded dramatically since the financial crisis, growing super-sized networks of accountants, lawyers and tax specialists that dwarf similar networks from a decade ago.
Mark Konza, deputy commissioner at the Australian Taxation Office, said: “These (leaks) send a clear message to those people who are involved with these types of service providers: if you’re getting involved in any arrangement that relies on secrecy then you can’t rely on secrecy.
“What we’re seeing (increasingly) is there are ordinary people who are becoming sick of some of the things they see happening.”
-snip-
Read more: https://www.theguardian.com/news/2018/jan/15/paradise-papers-revealed-commoditisation-of-tax-evasion-australia
