Who benefits? The US and the Big Four. Just as the Panama Papers helped to demolish Panama as a tax haven, compelling clients of Mossack Fonseca to flee to other secrecy jurisdictions to hide their money, the upshot of the Pandora Papers is that, right at this moment, the super rich who secrete their money in the British Virgin Islands, the Seychelles or Cyprus will be thinking long and hard about restructuring to hide their riches via Delaware or another onshore tax haven in the US.
They will also think long and hard about getting the Big Four global tax firms – PwC, Deloitte, EY and KPMG – to manage their affairs. The A Team.https://www.michaelwest.com.au/pandora-papers-is-the-worlds-biggest-leak-the-worlds-biggest-cover-up/