It has been just 18 months since Panama Papers Leak and here is another set of information on black money. A new release of confidential papers named Paradise Papers Leak is just been made public. This set of 1.34 Crore documents is another light on tax fraud by Indian Celebrities. Big names including Amitabh Bachchan are reported to hide their income from Tax Department in this leak. Central State Minister Jayant Sinha, MP R.K. Sinha, Ashok Gehlot, Sachin Pilot etc. named in this list. Paradise papers include documents on 180 countries from 19 Tax Heaven countries.
96 Media Groups investigated Paradise Papers for 10 Months
The paradise papers leak is a bundle of more than 13400000 documents leaked through various agencies. This includes most of the papers from Law firm based in Bermuda named AppleBee. Another leading firm is a company from Singapore – AsiaCity Trust. The papers are connected from 19 tax heaven countries which provide flexible financial solutions on minimum tax rates. Most of the documents do not indicate any tax theft. Paradise Paper List includes around 120 politicians around the globe. These Offshore companies are a great way to save tax from officers’ eyes.
Indian Celebrities in Paradise papers leak
The list contains many celebrity names including well-known names from India and abroad. Finance Minister of America, Son in the law of Russian President Putin, Advisor of Canadian Prime Minister, and British Queen Elizabeth Second are major names in this list. Talking about Indian Celebrities on the list– Vijay Malya, Dr. Ashok Seth, and Neera Radia are prominent names from India. It does also include Indian Companies names consisting FITJEE (leading coaching institute), HAVELLS (reputed electrical appliances company), HINDUJA Group, GMR Group etc. Most of the companies are accused of creating smaller helping companies to hide actual financial details.
ICIJ earlier leaks include PANAMA PAPERS LEAK
Paradise papers leak is not the first financial theft leak carried out by International consortium of investigative journalists (ICIJ). ICIJ also leaked many documents earlier including PANAMA Papers. These transaction histories affected political scenario around the globe on a major scale. Pakistani Prime Minister Nawaz Sharif had to resign from his post due to PANAMA PAPERS Leak. ICIJ also leaked Swiss Leaks in 2015. A team of 470 clerks, 200 lawyers, and 60 assistants work on decoding crores of documents and find out the hidden truth. It is really a tough task and requires special intelligence to decode this much data.
Will Paradise Papers go Panama Papers way?
The leak of Paradise papers leak announces new question to the journalists and law enforcers. The question is “Will paradise papers go the same way as Panama Papers in India?”. The question is due to the fact that government of India has not made any progress since Panama Papers leak on the case. Many countries showed the same side on these reveals. The issue is probably because it includes many politicians from almost every other major political party. Many Congress and BJP leaders are named in Panama Papers leak and Paradise Papers leak.