There is a lot of fuss going around regarding ‘Panama Papers’. It has been over the headlines and all over social media. A huge leak of 11 million documents from the secret files of Mossack Fonseca revealed how powerful and rich people have taken refuge in Panama to save tax. Panama ‘the tax haven’ is a problem. But, what is it exactly? In case you do not know the whole process, then you need not to read huge boring documents or articles. Vox’s German Lopez has simplified this huge corruption and tax saving scam through some really cute illustrations.
This idea popped up in his mind when DanGliesack on Reddit explained the concept through a story. Believe me, these illustrations solved all my doubts regarding Panama Papers. They have used piggy bank as a metaphor to explain the Panama Papers scandal. The scandal is all about how foreigners set up Panamanian shell companies to become their financial asset’s disguised owners and hide the identity of the real owner.
You find this annoying and you don’t like this interference at all!
Well, you secretly keep yours there without anyone interfering or keeping a check on it.
A lot of powerful and rich people have hidden their piggy banks at Johnny’s house in Panama.
But, there were certain kids who were stealing money and keeping them in their piggy banks. They didn’t want to be questioned by their parents (or pay proper taxes). Hence, they approached Johnny!
So, now we know why Amitabh Bachchan, Aishwarya Rai Bachchan and many others are under the spotlight. Soon things be clear and people will know that whether illegal and law bending activities were going on or not and to what extent!