UN calls for reducing credit rating of offshore fans

Source : 112 Ukraine

The UN noted that the violations of the tax legislation contribute to the growth of social injustice and human right abuse all over the world
09:50, 10 November 2017

Open source

Systematic violations of tax legislation by big companies must be punished by reducing their credit rating, the UN experts said while commenting on Paradise Papers, according to the UN News Centre

“Wealthy people and international corporations continue using unethical means in an attempt to lower taxes to the bare minimum. This is why state budgets don’t get sufficient income to cover the expenses, which leads to an increased debt,” the statement reads.

Related: Naftogaz investigates Ukrtransgaz board member over Paradise Papers

The Paradise Papers is a set of 13.4 million confidential electronic documents relating to offshore investment that were leaked to the German newspaper Süddeutsche Zeitung. The newspaper shared them with the International Consortium of Investigative Journalists, and some of the details were made public on 5 November 2017.

Related: Details of Paradise Papers: What we learned from new offshore compromising data?

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