MAJOR EXPOSE-PARADISE PAPERS -714 Indians in Paradise Papers for skirting taxes


714 Indians in Paradise Papers for skirting taxes

  • A new set of data taken from offshore

    law firm, Appleby, could expose the hidden wealth of individuals, including Indians.

  • Among the 180 countries represented in the data, India ranks 19th in terms of the number of names.

  • An Indian firm figures as Appleby’s second-largest client globally, with at least 118 different offshore entities.

A year after the Panama Papers, a new set of data taken from another offshore law firm, xxxxxxx, could expose the hidden wealth of individuals, including Indians, and show how corporations, hedge funds and others may have skirted taxes.

Among the 180 countries represented in the data (being dubbed Paradise Papers), India ranks 19th in terms of the number of names, a report on Indian Express website said.

In all, there are 714 Indians in the tally, it reported. Interestingly, an Indian firm figures as Appleby’s second-largest client globally, with at least 118 different offshore entities, it said.

The disclosure comes two days before the NDA government marks the first anniversary of the demonetisation drive on November 8, which the Centre will observe as Anti-Black Money Day.

According to records obtained by the International Consortium of Investigative Journalists (ICIJ), Ross is an investor in Navigator Holdings, a shipping giant that counts Russian gas and petrochemical producer XXXX among its major customers. XXXXX relative XXXXXX once owned over XX% of the company, but now holds a much smaller stake.

The latest revelations come out of an investigation led by the ICIJ, which was provided data collected in an alleged hack in 2016 of Appleby Global Group Services, a Bermuda firm providing legal services for hedge fund managers and corporations.

The leak also revealed that millions of pounds from the private estate of Q have been invested in offshore tax haven funds.