The revelations of the Panama Papers have captured our attention this week, bringing up issues related to tax shelters, shell corporations, and possibly-questionable-but-not-quite-illegal corporate structurings. Today’s article from The Washington Post raises another interesting point: The United States itself is a leading tax haven for the rest of the world. The article points in particular to how easy it is to set up a corporation in the US, with registered agent companies making it possible for the real owners of a corporation to remain hidden. Although the Panama Papers have not implicated any Americans (yet), the disclosures could have repercussions in the American legal system.
The Washington Post: “How the U.S. became one of the world’s biggest tax havens”