The Price Countries Pay for Tax Evasion

(The Intercept) – Jon Schwarz:

Reading the many stories based on the giant leak of documents from Panamanian law firm Mossack Fonseca – notorious for its prolific creation of shell companies to hide assets of wealthy malefactors – you might well ask: How much tax revenue do the world’s governments lose thanks to this kind of financial engineering?

According to The Hidden Wealth of Nations, a recent book by University of California, Berkeley economist Gabriel Zucman, the answer is that tax evasion costs governments approximately $200 billion per year. …

theintercept 2016/04/05 heres-the-price

The Panama Papers

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