What are the Paradise Papers?

World November 5, 2017 20:15

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The leak of a total of 13.4 million files also contains data from the smaller Singaporean Asiaciti Trust office and nineteen jurisdictions, mostly islands known for their beneficial tax rates and strict secrecy.

According to the FD, Appleby is one of the most prestigious offices operating from tax havens. According to the newspaper, the customers are therefore less controversial. Most often, multinationals are setting up legal structures to avoid taxation.

However, controversial practices are also taking place. The coming days and weeks say ICIJ and media worldwide publish many of the examples. In the Netherlands, Trouw and FD are international, for example, the BBC, The Guardian, Le Monde, The Time and The New York Times.

The research was co-operated by more than 380 journalists. Like the Panama Papers, Paradise Papers expose the 'secret world of tax havens,' writes Trouw.

At the Panama Papers, the data came from Panamese legal consultancy Mossack Fonseca. That office was called a criminal organization by the Panamese justice. These papers revealed shady, but not necessarily illegal tax structures. It involved a long list of stakeholders, including Lionel Messi, Clarence Seedorf, several heads of state and major international banks.

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