The Price of Tax Evasion (The Intercept)

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The recent document leaks of a Panamanian offshore law firm revealed incidents of tax evasion on a global scale that have cost the world’s governments dearly, argues Jon Schwarz in The Intercept.

Just how much taxes are evaded through offshore firms like the Panamanian firm Mossack Fonseca is unclear, but estimates by a University of California-Berkeley economist suggest that . eight percent of the world’s wealth is considered “missing” due to tax evasion.

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