South Dakota, one of the US states to match the world’s top tax havens

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Washington (AFP) – Far from the mountains of Switzerland or the beaches of the Caribbean, South Dakota has become a poster child for the American states that have loosened their tax laws to attract wealthy investors. “Over the past decade, South Dakota, Nevada and more than a dozen other US states have transformed themselves into leaders in the business of peddling financial secrecy,” according to the vast investigation into offshore tax havens released this week known as the “Pandora Papers”. With secrecy and systems that allow clients to evade tax or pay nothing during an inheritance, these …

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