November 6, 2017

Wilbur Ross is a billionaire businessman turned U.S. commerce secretary. Photo by Joe Raedle/Getty Images Karl Marx famously defined capital as value through motion. To make capital work in a complex global economy of markets, derivatives, and computer analyses, wealth is accumulated, inherited, invested, divested and diversified through assets, companies, holdings and trusts. The motion never […]

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New Delhi: Union finance ministry on Monday said that its investigations on earlier expose by ICIJ “Panama Papers” on black money held in tax havens by Indians “led to the detection of undisclosed credits of about Rs 792 crore.” CBDT said that in five cases criminal prosecution complaints have been filed. Following revelations made by […]

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Formula 1 world champion Lewis Hamilton ‘avoided’ paying VAT on his £16.5million private jet, the Paradise Papers have revealed. The 32-year-old, who won his fourth world title last week, received a £3.3million refund for the Bombardier Challenger 605, which was imported into the Isle of Man. Any private jet purchased outside the European Union is […]

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Canadian tax authorities are reviewing reports linking a key fundraiser for Prime Minister Justin Trudeau to offshore trusts in the Caribbean. Montreal-based businessman Stephen Bronfman, son of billionaire Charles Bronfman, was among the individuals cited by news organizations including the Canadian Broadcasting Corp., Radio-Canada and the Toronto Star Sunday in the latest leak of bank […]

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Jeremy Corbyn today suggested the Queen should apologise for her offshore investments as he demanded a public inquiry into the ‘Paradise Papers’. The Labour leader said anyone who moves money offshore to avoid tax should say sorry and consider how their impacts on wider society.  The Queen’s income comes from a private estate called the […]

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The majority of the Maltese people have chosen to remain silent. Silent in the face of this horrible chapter in our lives as journalists – an episode that we would have never wished to have faced. The wish of the Caruana Galizia family for the President of the Republic not to attend for the funeral […]

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“EU governments such as Germany have been standing against the rising tide of financial transparency,” Carl Dolan, who heads Transparency International’s EU office, said in a statement. Dolan says EU capitals have yet to sign up to two European Commission proposals aimed at shedding light on money laundering, tax evasion and avoidance. The latest cache […]

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Issued by Transparency International Secretariat The ‘Paradise Papers’ revelations published on 5 November by the International Consortium of Investigative Journalists (ICIJ) and its partners show how the rich and powerful around the world are able to hide wealth through complex and opaque financial structures which allow them to keep their business dealings secret. These secret structures can […]

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