The U.S. Department of Justice announced it is investigating Panama papers in united stated as the paper revealed many US companies are involved in offshore investment for tax avoidance.
Crude-oil prices on Monday fell but traded off the day’s lowest levels after key producers failed to agree on a production cap that could have tightened up supply.
Judy Beals, Director of Private Sector Engagement at Oxfam America, said that U.S. tax system allows big companies hold money offshore.
Oil producing countries meeting in Doha on Sunday appeared close to agreeing on an output freeze to prop up crude prices, the first such deal in 15 years.
In a survey conducted by Gallup, 57 percent of those polled stated that they were paying too much in taxes.
Programmed changes that President Barack Obama declares are intended for ensuring American companies do not avoid tax by shifting their headquarters overseas could also constrain foreign companies to adopt more conservative U.S. tax-planning methods.
The United States is intending to avoid a deal between OPEC and non-OPEC nations to fixate oil markets, Nicolas Maduro president of Venezuela said on Tuesday, accusing Washington of exert "war-like" attempt to prevent an deal.
Speculation regarding the origins and motivations of who is behind the Panama Papers leak has been racing, particularly as the larger issue of tax evasion – including tax aversions – appears to be heating up in Washington D.C. Who is responsible for the largest journalist data leak in history? A hacker or disgruntled internal employee? Or perhaps this is a global conspiracy, which is a topic advanced by certain world leaders. And most important of all, why the names of American officials do not show up in the list as frequently as those of the others?
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