Establishing a globally agreed tax body under the auspices of the United Nations and putting an end to dubious tax avoidance activities would bolster government revenues and help finance the provision of essential public services, especially in the Global South.
The recent revelation resulting from the Panama Papers is nothing new. It just helps to highlight the sheer scale of criminality being perpetrated by those wealthy enough to benefit. What we are witnessing from a tiny island, nestled neatly between North and South America, is a glimpse of a global money laundering fest on a truly oceanic scale.
“Privacy is a fundamental human right that is being eroded more and more in the modern world. Each person has a right to privacy, whether they are a king or a beggar.” Few could disagree with the essence of this statement by Panamanian lawyer Ramon Fonseca, one of the founders of Mossack Fonseca, which has made the news in the last few days.
