1. The #PandoraPapers confirm that #BeneficialOwnership is the mother of all sins, and allows #IllicitFinancialFlows.
2. The #PandoraPapers confirm the importance of focusing on the facilitators - those who enable corruption, tax avoidance/evasion and financial crimes. This is not new and has already been highlighted by the @FACTIpanel and others.
3. Interagency cooperation is key to fight #IllicitFinancialFlows. Tax authorities have important information that may support corruption and other financial investigations, and vice-versa. Expect to hear from @returningassets and @TaxLawVienna on this very soon!
4. We should all care about #taxevasion! Offshore services undermine the equity of the tax system by
hampering the ability of governments around the world to ensure their tax systems are broadly fair and progressive.
hampering the ability of governments around the world to ensure their tax systems are broadly fair and progressive.
5. The #PandoraPapers also highlight that the ability to hide large amounts of money in opaque structures
and secrecy jurisdictions facilitates corruption and other financial crimes. We must demand increased transparency on #BeneficialOwnership!
and secrecy jurisdictions facilitates corruption and other financial crimes. We must demand increased transparency on #BeneficialOwnership!
6. The #PandoraPapers make it clear that we need more focus on jurisdictions not traditionally identified as offshore financial centers. Tax evaders and criminals want the protections afforded by the rule of law in countries like 🇺🇸 and 🇬🇧. We must do better!
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