After Panama papers, another huge leak named as Paradise Papers leak has revealed that how two firms Bermuda’s Appleby and Singapore’s Asiaciti Trust help the global rich and famous move their money abroad. Bollywood stars Amitabh Bachchan and Sanjay Dutt’s wife Manyata, Union minister Jayant Sinha and 711 other Indians accused of secretly invested vast amounts of cash in offshore tax havens.
What Is Paradise Papers Leak?
Paradise Papers are a cache of 13.4 million documents obtained by German newspaper Süddeutsche Zeitung which contain information about 19 tax havens and it shows how companies & individuals can avoid taxes using duplicate entitles.
The leak has been investigated by the International Consortium of Investigative Journalists (ICIJ) which was behind the Panama Papers made public last year.
List Of International Leaders And Celebrities Involved
The list includes names such as Britain’s Queen Elizabeth II, US Commerce Secretary Wilbur Ross, Madonna, Canadian Prime Minister Justin Trudeau and Colombian President Juan Manuel Santos.
Bollywood veteran Amitabh Bachchan, Sanjay Dutt’s wife Manyata Dutt, corporate lobbyist Niira Radia, Union minister Jayant Sinha and Vijay Mallya are among Indians named in the list. According to The Indian Express, Rajya Sabha MP Ravindra Kishore Sinha is the head of an organisation which has two offshore companies. He said:
“These matters have been fully disclosed in the various filings with SEBI as a part of the IPO of Security and Intelligence Services (India) Limited.”
Vayalar Ravi, M Veerappa Moily, the UPA minister has also a connection with the Paradise Papers.
Important Disclaimer Published By ICJ
International Consortium of Investigative Journalists (ICIJ) also published the following disclaimer: “There are legitimate uses for offshore companies, foundations and trusts. We do not intend to suggest or imply that any persons. companies or other entities included in the list have broken the law or otherwise acted improperly.”