8/8 Tax Haven and Paper Company

Local online media published lists of people who allegedly set up paper companies or accounts in offshore tax havens.
* allegedly: 주장된 바에 의하면, 이른바
ex> Allegedly, he kidnapped the child and demanded a large ransom.
* offshore: 해외에서의, 역외의  ex> offshore investment
* tax haven: 조세 피난처

The lists include high-profile Korea businessmen and their family members.
* high-profile: 세간의 이목을 끄는
ex> a high-profile campaign 
ex> He has worked with high-profile actors such as Song Kang-ho.

These people avoided paying taxes and stashed secret funds in major tax havens.
* stash: 숨겨 두다, 치워두다, = hide
ex> He probably stashed away a lot of money in Swiss banks.
ex> She has a fortune stashed away in various bank accounts.
cf> tax evasion: to avoid paying taxes ex> He was indicted on charges of tax evasion.

A tax haven refers to a country where certain taxes are imposed at a very low rate.
* impose: 부과하다, 도입하다, 시행하다
ex> The government decided to impose more taxes on cigarettes.

Some companies establish paper companies in these tax havens to commit fraud.
* fraud [frɔ:d]: 사기, 부정행위
ex> She was indicted for fraud and embezzlement.

A paper company or shell company is a company that only exists on paper.
* on paper: 서류상으로, 이론적으로
ex> They are already married on paper.
* paper company = shell company: 유령 회사



@ There is no end to human greed. 사람의 탐욕에는 끝이 없구나.

1. She was allegedly beaten up by a group of teenagers.
2. He stashed homemade bombs in the basement. 
3. She thinks we should impose more taxes on rich people. 
4. It only looks good on paper. 

Explain what a tax haven and a paper company are.

Local online media published lists of people who allegedly set up paper companies or accounts in offshore tax havens.

The lists include high-profile Korea businessmen and their family members.

The media group said that these people avoided paying taxes and stashed secret funds in major tax havens.

A tax haven refers to a country or territory where certain taxes are imposed at a very low rate or not at all.

Some companies or individuals establish paper companies in these tax havens to commit fraud.

A paper company or shell company is a company that only exists on paper and has no physical assets.