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Symbolbild Panama Papers - Daten-Leak Steuerflüchtlinge

Hidden fortunes have been exposed--the rich and powerful around the world are put under pressure. The so called Panama Papers have revealed the details of hundreds of thousands of holding companies.

Politicians, athletes, corporate interests and criminals used the secretive banks of Panama to move massive amounts of money without the peering eyes of the authorities.

In some cases this could be solely for the purpose of privacy--but often it could have just as easily been used to avoid taxes, or to pay bribes or circumvent internatonal sanctions against terrorists or questionable regimes.

Why have these kind of tax havens been allowed to thrive? Given what the Panama Papers have exposed: what now needs to be done?

What do you think? Send us an email with your thoughts: quadriga(at)dw.com