Thursday February 20, 2020

Just because Panama is legal doesn’t make it right

The use of offshore tax havens may be onside in a legalistic sense, but not in a moral one

10th April, 2016
Detials of off-shore accounts were leaked last week Pic: iStock

Last week’s disclosures of offshore havens for anonymous funds raises more questions than it answers. It seems to me the only way to tackle these questions is to break them down to their component parts.

I am weary of hearing that “the use of offshore vehicles is perfectly legal”. It is, but plenty of things are legal. That doesn’t make them right. “Legal” simply means what the law allows, and that’s often a...

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