4 Countries Lead Way in Offshore Tax Evasion

By Kilzer, Lou | Tribune-Review/Pittsburgh Tribune-Review, April 5, 2013 | Go to article overview

4 Countries Lead Way in Offshore Tax Evasion


Kilzer, Lou, Tribune-Review/Pittsburgh Tribune-Review


People with offshore shell companies and trusts in the British Virgin Islands and nine other jurisdictions frequently used to evade taxes lived most often in China, Hong Kong, Taiwan and Russia, according to findings from one of the biggest data analysis and cooperative journalism efforts in history.

Organized by the Washington-based International Consortium of Investigative Journalists, a group of 86 journalists from 46 countries analyzed a computer hard drive containing more than 2.5 million files of corporate and personal information and more than 2 million emails.

The data included details of more than 122,000 offshore companies or trusts, nearly 12,000 agents or intermediaries, and about 130,000 records on the people and agents who run, benefit from or hide behind offshore companies from 170 countries and territories. About 40 percent of the files were duplicates.

Missing from the report released Thursday, the ICIJ acknowledged, were the names of the true owners for the vast majority of the secret accounts -- an ongoing problem facing the United States and many other cash-strapped nations trying to locate tax evaders.

Journalists had hoped that with computer software used to dissect the hard drive "the data as to who was behind a company was a click away. In fact, database entries for 'beneficial owners' were often empty."

The report also furthers the oft-reported but erroneous notion that offshore accounts are used by large companies shifting tax burdens and "the mega-rich ... to own mansions, yachts, art masterpieces and other assets, gaining tax advantages and anonymity not available to average people."

As part of its "Shadow Economy" series last year, which recently won a national Scripps Howard award, the Tribune-Review showed that almost anyone can establish a shell company and offshore bank account in Belize for less than $1,000. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

4 Countries Lead Way in Offshore Tax Evasion
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.