With the Panama Papers making big headlines, the question arises whether offshore companies and trusts are legitimate. While there are many legitimate uses for offshore companies, we can also see that there are many people who are using it to avoid taxes.
Check out my vlog where I go over why offshore companies might be legitimate or just another way to avoid taxes for the rich.
However if there is one thing we’ve learned so far, it’s that trillions of dollars aren’t being taxed. This creates huge economic problems where those missing tax dollars need to be filled somewhere – whether it be cuts, austerity or tax hikes.
Make sure you leave your thoughts in the comment section below!