‘Pandora Papers’ bring renewed calls for tax haven scrutiny

By PAUL WISEMAN and MARCY GORDON
AP Business Writers

WASHINGTON (AP) — Calls are growing for an end to the financial secrecy and shell companies that have allowed many of the world’s richest and most powerful people to hide their wealth from tax collectors. The outcry came after a report published Sunday revealed the way that world leaders, billionaires and others have used offshore accounts to keep trillions of dollars out of government treasuries over the past quarter-century, limiting the resources for helping the poor or combating climate change. The report is being dubbed the “Pandora Papers.” Many of the tax dodges are legal, and analysts say one solution is to ban shell companies that help investors avoid paying taxes.