At this point, the duo admit Panama's prominent reputation as an offshoring center is fast coming to an end. As Mossack admits, "the cat is out of the bag"
It’s a far cry from the boom years, a period when Mossack said he and Fonseca used to keep a vast inventory of “shelf companies” on hand because banks would request as many as a hundred at a time. This weekend’s document leak will only add to the firm’s woes, he said.
"The cat’s out of the bag,” Mossack said. “So now we have to deal with the aftermath.”
Perhaps it is for Panama. But one place is delighted to take its place: the US, and specifically states like Nevada and Wyoming, which as we showed before, are the new global tax havens.
Recall that according to a recent investigation by Bloomberg, "The World’s Favorite New Tax Haven Is the United States" ...
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