Business and Finance News

Delaware’s mega tax haven: Americans don’t need Panama

The US state of Delaware, calls itself the First State, and it is also the world’s biggest tax haven which may explain why the revelations this week triggered by a massive leak of over 11m documents from a law firm in Panama, facilitating the hiding of wealth by the rich elite of the world, did not feature Americans as it is much easier to set up anonymous shell companies in the United States than it is in well-known tax havens such as the Cayman Islands, Bermuda or the British Virgin Islands.

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