The Indonesian Connection
Offshore companies and tax havens have normally been associated with the rich and famous from the industrialized world. But with the rapid pace of globalization, it was just a matter of time before the nouveaux riches of the developing economies followed suit. Not surprisingly, therefore, the so-called Panama Papers contain lists of people from all continents of the world. For us, it's the shocking number of Indonesians mentioned that leaves us agog with curiosity.
A number of public officialsamong the almost 900 Indonesians mentioned in the documents leaked from Panamanian law firm Mossack Fonsecacould be breaking the law. It is difficult to justify their conduct in employing the firm's services to set up companies in several tax havens. At the very least, this is an indication of attempted tax evasion.
April 12, 2016
Offshore companies and tax havens have normally been associated with the rich and famous from the industrialized world. But with the rapid pace of globalization, it was just a matter of time before the nouveaux riches of the developing economies followed suit. Not surprisingly, therefore, the so-called Panama Papers contain lists of people from all continents of the world. For us, it's the shocking number of Indonesians mentioned that leaves us ag
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