What is offshore and how tax havens affect your life

Offshore, fiscal paradise, Pandora Papers. You’ve probably come across these terms in recent days, reading accusations that implicate Economy Minister Paulo Guedes.

O BoF explains this week what it all means, and how this information impacts your life.

In November 2020, the organization TaxJustice Network (International Tax Justice Network, in Portuguese) estimated that tax havens “take” from Brazil around US$ 15 billion a year – the equivalent of R$ 80 billion.

Low-income countries lose the equivalent of 5.8% of their tax revenue, while high-income countries lose 2.5%.

Understand what is at stake:

Edition: Vivian Virissimo

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