We Need a Transparency in the World

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The internatinal monetary fund says that 600 billion dollars in tax is lost to governments as a result of these tax loop holes. I mean, i wonder about the the specifics of, say, for example, king abdulla of jordan. The purpose is not only tax avoidance or tax evasion, but it is anonymity to be able to do it without any scrutiny. And this is one of the most important factors of our world to day, the impunity of the rich and powerful.

The recent publication of The Pandora Papers, a trove of 12 million financial documents obtained by the International Consortium of Investigative Journalists, has once again shone a spotlight on secret offshore accounts and tax loopholes. The papers contain the financial dealings and global influence of billionaires, world leaders and politicians, plus many more. They also highlight how ineffective governments can be in preventing manipulation of tax rules for the gains of the super rich. In order to understand how this imbalance occurs and how it fits into the global financial picture, journalist Razia Iqbal spoke with Jeffrey Sachs, one of the world's most foremost economists, to pick through the paper trail.

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