Tax expert Moran testified in the House
WASHINGTON, DC — Tax expert Beverly Moran testified at the House Ways and Means Oversight Subcommittee hearing on “The Pandora Papers and Hidden Wealth”
Tax expert Beverly Moran, a professor emeritus at Vanderbilt Law School, testified before a hearing of the House Ways and Means Oversight Subcommittee on “The Pandora Papers and Hidden Wealth” on Dec. 8. The entire hearing can be viewed on the Ways and Means Committee website.
Moran was the first legal expert to speak before the oversight subcommittee. In her testimony, co-authored with Paul Beckett of MannBenhan Advocates, she called for immediate government regulation of tax havens. “Tax havens deprive citizens of traditional economies of income from schools, hospitals and roads, while undermining sovereignty and the rule of law,” she said.
Other witnesses included Daniel Hemel of the University of Chicago Law School, Erica Hanichak of the Financial Accountability and Corporate Transparency Coalition and David R. Burton of The Heritage Foundation.
The December 8 hearing was part of an investigation into the rise of the United States as a global tax haven prompted by the release of the Pandora Papers, which consist of nearly 12 million files released in October 2021 by the International Consortium investigative journalists. The documents revealed a complex web of tax havens, shell companies and offshore accounts created to hide assets to avoid taxes. The state of South Dakota is mentioned in the Pandora Papers as a tax haven in the United States.
The House Ways and Means Oversight Subcommittee is chaired by Rep. Bill Pascrell Jr. (D-NJ).
Moran was quoted in a December 7 Washington Post article that discussed the hearing and the emergence of South Dakota and other states as tax havens. “The Pandora Papers came as a huge shock to most Americans who realized that the United States is a tax haven and that all kinds of bad actors are pumping money into the United States,” she said. . “At the very least, we should apply the same rules to this industry that we apply to organized crime so that the lawyers, accountants and bankers who help the tax haven industry have certain limits on what they do and promote. .