The so-called Paradise Papers may sound familiar – leaked documents from a law firm that specializes in offshore services reveal how the global elite avoids paying taxes. Even the name has the same ring to it as last year’s Panama Papers expose. But the Paradise Papers are different, reflecting the complexity of the global offshore tax system.
As Washington cracks down on pharmaceutical company greed, the largest ever health-care-acquisition between Allergan and Pfizer has been dissolved.
Pfizer will have to pay Allergan $400 million in fees for pulling out of the planned $160 billion merger, but the mega-pharmaceutical company will end up paying much more in avoided taxes.
I stress, I am suggesting nothing illegal happened. But to say that Ian Cameron did not gain from tax avoidance when running such a structure is absurd and Robert Peston has a duty to do better than that if he is to be taken seriously.
The post Fisking Robert Peston on tax avoidance appeared first on BSNEWS.
Inequality gap widens ‘dramatically’ as super-rich get richer. THE WORLD’S 62 wealthiest people own as much as the globe’s poorest half— around 3.6 billion people, Oxfam revealed yesterday. The total riches of the group — just nine of whom are women — has increased to £1.22 trillion since 2010, yet their wealth has not led to higher tax revenues to […]
The post 62 People Own Half The World appeared first on BSNEWS.
