Mormons walk away from major multinational tax evasion scheme

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The Mormon Church is significantly reducing its use of a controversial shell company after an investigation revealed it had engaged in alleged serious tax evasion in Australia.

The Church of Jesus Christ of Latter-day Saints, commonly known as the Mormons, set up a tax structure in 2012 that allowed its adherents in Australia to accumulate exemptions worth hundreds of millions of dollars that are not lawfully available to followers of other religions.

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