Sunday, October 3, 2021

‘Pandora papers’: New leaks reveal how world leaders use offshore companies to dodge millions of dollars in taxes — RT

King Abdullah II of Jordan 
Leaked papers appear to show how some of the world’s elites accumulate property empires while avoiding millions in taxes, with reports focusing on European, Middle Eastern and South American leaders, and world-famous celebrities.

Obtained from 14 offshore banking institutions and analyzed by the International Consortium of Investigative Journalists (ICIJ), the ‘Pandora Papers’ reveal the financial chicanery of more than 100 billionaires, 35 current and former world leaders, and 300 public officials. The first round of information, handed to a select list of international outlets and studied by “600 journalists,” was published on Sunday.

According to the ICIJ, King Abdullah II of Jordan is a prolific user of shell corporations to manage his global property empire. The monarch reportedly used 36 of these companies from 1995 to 2017 to purchase 14 luxury properties in the US and UK worth more than $106 million. The king’s lawyers say he used these stand-in companies to maintain his privacy rather than to dodge any taxes....RT

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