The Panama Papers could have been a massive moment in history. However, the culture of tax havens, creative taxation and billionaires paying zero tax remains.
An Oxfam report released on January 20 revealed that last year 26 billionaires owned the same amount of wealth as the poorest 3.8 billion people around the globe. This was down from 43 individuals the year before. And this extreme wealth disparity is accelerating every year.
As has been exposed over recent times, some amongst the richest portion of society has a habit of avoiding paying taxes. There was the Panama Papers leaked in 2015. And then there was the largest ever leak of financial information—the Paradise Papers—that came to light in late 2017.
The Paradise Papers consist of 13.4 million pages that reveal the global rich avoiding tax payments by using offshore tax havens and