NEWS + ANALYSIS
YAMILA FECCIA

NEWS + ANALYSIS

THE WORLD NEEDS MORE TAX HAVENS, NOT FEWER

October 31, 2016 | by Yamila Feccia

The size of a country’s tax burden plays a significant role in its economic development. This year, the release of the Panama Papers resulted in a widespread challenge of tax shelters, or tax havens, along with the practices of tax evasion and tax avoidance. In the midst of the turmoil, however, people forgot to consider the voracious fiscal climate that continues to escalate in Latin America. A case in point is Argentina, whose leaders still have not closed the fiscal gap they inherited from the previous government, despite having the highest tax rates in the world. In this context, in the absence of a plan to reduce regulations and with the presence of a “tax cartel,” what role does the market play in alleviating tax burdens?

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