Episode 837 • • 2:32:24 - 2:35:36
837: Open the Chunnel!
Panama Papers, Offshore Wealth and BEPS Project
The discussion turns to the $11 trillion held in offshore tax havens, as revealed by the Panama Papers. Lagarde discusses the "Base Erosion and Profit Shifting" (BEPS) project aimed at closing tax loopholes for corporations. She emphasizes the need for "global leadership" and an automatic exchange of information between countries to eliminate "holes in the system."