Americans don't need to stash funds abroad – they can do it locally
“One place
Americans can hide assets, though? The United States. Experts point out that
it's stable, it's safe, and the laws make it fairly easy to structure your
holdings – legally – to keep taxes low.
“Not too
surprised,” Zucman wrote in an email about the lack of Americans in the Panama
Papers. “Part of the reason is that it’s unfortunately way too easy to create
anonymous shell companies in a number of US States like Delaware and Nevada, so
no need to go to Panama.” In fact, multiple international organizations rated
the U.S. as one of the world’s biggest tax havens last year.
So even as Congress
has passed laws like FATCA to force foreign banks to hand over more information
about Americans, the U.S.’s own legal system offers them plenty of creative
ways to stash their money.”Related:
http://vivekjayakumar.blogspot.com/2016/04/panama-papers-shed-light-on-global.html