November 11, 2017

Pakistan’s prime minister is to be subjected to an unprecedented grilling about corruption claims against him and his family that have gripped the country. Nawaz Sharif will become the first sitting prime minister to face an investigating agency when he appears on Thursday before a powerful panel appointed to look into his family’s overseas assets, […]

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From Panama to Paradise “The ‘Paradise Papers’ have once again highlighted the failure of governments around the world to deal with the scourge of tax dodging and financial crime facilitated by offshore financial centres, and we commend the ICIJ on their fearless investigative journalism” – Tax Justice Network The Paradise Papers, released by the International […]

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iStock The Paradise Papers reveal new accounts of offshore tax havens for the very wealthy that highlight the problem of wealth inequality. Offshore wealth is especially concentrated, Berkeley’s Gabriel Zucman tells Business Insider — 80% of it is owned by the top 0.1%. Offshore assets are hidden, so they make inequality look less severe than […]

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News comes after Stubhub and Viagogo offices raided in the UK An investigation by CBC/Radio-Canada and the Toronto Star, based in part on documents found in the Paradise Papers, has exposed Julien Lavallée’s multimillion-dollar ticket resale operation that allegedly used bots to buy up tickets and resell them at huge markups. For three Adele concerts in the UK, his business bought up […]

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The most startling revelation of the so-called “Paradise Papers” involved Commerce Secretary Wilbur Ross, who maintained his stake in a shipping firm called Navigator Holdings after assuming public office — and even as a Russian natural gas firm called Sibur increased its business dealings with Navigator. Updated November 11, 2017 4:03 PM President Donald Trump […]

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New analysis from economists Gabriel Zucman, Thomas Tørsløv, and Ludvig Wier shows that tax avoidance by big companies has preserved billions in revenue that could have gone to government coffers. They find that $408 billion (€350 billion) is shifted each year to tax havens in the EU (Luxembourg, Ireland, the Netherlands, Belgium, Malta and Cyprus) […]

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During the past week, the so-called Paradise Papers that reveal the offshore tax activities of more than 120,000 people and companies have certainly brought deep embarrassment for many of them, but the implications could get more serious with prosecutions and tax reforms, according to experts at Wharton and elsewhere. The Paradise Papers were leaked from […]

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The European Parliament will be calling on Police Commissioner Lawrence Cutajar to open an investigation on the revelations in the Panama Papers and on the Politically Exposed Persons in the leaked Financial Intelligence Analysis Unit reports. In a move prompted by the assassination of journalist Daphne Caruana Galizia, the EP’s political groups, bar the Socialists […]

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10 November 2017 – Ratings agencies must downgrade businesses responsible for unethical practices such as tax evasion carried out through off-shore-registered companies, two United Nations human rights experts warned, while urging countries to cooperate to counter this global tax abuse problem. “States must stop harmful tax competition amongst each other and work together to stop […]

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The Paradise Papers have shed new light on the murky world of offshore finance, revealing the arcane schemes used by the world’s wealthiest individuals and corporations. Heads of state, technology giants and government officials are among those whose interests in tax havens have been brought into the cold light of day. Five days later, what […]

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