South Dakota joins Bermuda as tax haven for the rich

CNBC Television published this video item, entitled “South Dakota joins Bermuda as tax haven for the rich” – below is their description.

The Washington Post found in its latest exposé that South Dakota now plays a leading role in global offshoring. CNBC’s Robert Frank reports on details from the Pandora Papers.

CNBC Television YouTube Channel

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About This Source - CNBC Television

CNBC is an American pay television business news channel, which primarily carries business day coverage of U.S. and international financial markets. Following the end of the business day and on non-trading days, CNBC primarily carries financial and business-themed documentaries and reality shows.

As of February 2015, CNBC is available to approximately 93,623,000 pay television households (80.4% of households with television) in the United States.

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In This Story: Pandora Papers

The term “Pandora Papers” refers to a huge collection of data which was leaked to the International Consortium of Investigative Journalists in 2021. The papers contained nearly 12 million documents, sourced from around the world, relating to corporate and financial transactions of wealthy individuals. Many global leaders, current and former politicians, political donors, and monarchs saw transactions, which would otherwise have remained secret, exposed to the public.

Very quickly, allegations of bribery, corruption, tax avoidance and several challenging ethical questions have been raised as a result of this data being made public.

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