After the Panama Papers and the Paradise Papers, now the headlines of the Pandora Papers. The International Consortium of Journalists’ Investigation splashes many public figures for their tax evasion practices.
Former British Prime Minister Tony Blair and singer Shakia are among the names mentioned in the survey, which includes nearly 12 million documents.
And while these are new names, the strategies that have been in place for many decades remain the same, says Alain Daniolt, an expert in tax havens and a professor at Monton University.
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“Tax havens are still being used to hide assets from tax authorities and to conduct operations in a completely opaque manner,” he explained in an interview with TVA Nouvelles.
What stands out with Pandora Papers is the industrial aspect of tax evasion, says Professor Alain Daniol.
“Today, the assets of powerful, multi-millionaires and large corporations are being managed in tax havens in a completely comprehensive way. Capitalism today finds itself in tax havens,” Mr Daniolt points out.
Public pressure to demand from leaders is constantly increasing from the concrete actions that are still pending.
“If they do not, apparently, it’s because they’re interested in protecting the oligarchy of which they are a part or who they work for,” Alain Denault declared.
Tax evasion is “legalized” by Canada
And the Canadian government does not boast of doing better than other countries, the tax paradise expert said. For years, Alain Daniolt noted that neither the Liberals nor the Conservatives had really taken action to combat tax evasion.
“Both, since 1980 and in the same manner, support tax havens”
Whether Canada makes a deal with Barbados or makes changes to Canadian tax regulations that promote the transfer of funds to many tax havens, Canada will do everything in its power to make it easier for individuals and businesses to escape. Alain Daniolt.
“Our tax system in Canada acts like a toll booth on a road that has a bypass for luxury cars,” he explained.
“We legalized it here in Canada and, of course, should be fined,” adds Professor Daniolt.