MY OPINION
THE PANDORA BOX HAS BEEN OPENED Following the disclosures of the Panama Papers published on April 3, 2016, more than 600 journalists from 150 media outlets in 117 countries have spent more than one year to analyse a leak of confidential records of 14 offshore service providers amounting to 2.94 terabyte of data about professional services to wealthy individuals and corporations seeking to incorporate shell companies, trusts, foundations and other entities in low or no tax jurisdictions. As an initial result this month of October 2021, more than 330 politicians and 130 Forbes’ list billionaires, as well as celebrities, fraudsters, drug dealers, royal family members and leaders of religious groups in more than 90 countries were exposed. The only reason to seek financial secrecy is to hide ill gotten money or earning and to avoid taxation, either way this amounts to stealing without mentioning the damage these thefts cause to society, families and individuals. Although the poorest countries would seem to be the worst affected by their leaders simply because of the strikingly obvious inequality between the people and the leaders, I dare say that the actual effect of this inequality is Pro-rata the same in all nations affected. It is plainly obvious that these “thefts” of funds, properties and taxes deprive the nation and its people of the benefits and the real standard of living they should be enjoying. 36
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