Paradise Papers: About 8 trillion euros in tax heavens
Law firm Appleby is one of the market leaders of offshore businesses with 100 million dollars annual revenue, 470 employees, and offices in almost every major tax haven.
The company was set up in Bermuda and its list of customers contains the names of more than 120,000 people from 50 countries, including princesses, prime ministers and Hollywood stars, as well as some of the richest oligarchs in the world, from Russia, the Middle East, Asia and Africa.
The firm is now at the spotlight of the Paradise Papers - a set of 13.4 million documents relating to offshore investment, leaked to the public on 5 November 2017.
According to Süddeutsche Zeitung, the papers show how some clients use mailbox companies to cover up criminal behavior or hide money illegally obtained. The papers also reveal the previously unknown connections of an American minister with the Russian oligarchs. In total, more than twelve councilors, cabinet members and Donald Trump sponsors are included in the list.
The newspaper claimed that the documents prove that giant companies such as Nike, Apple, Uber or Facebook reduce their taxes at ridiculously low rates, reveal assets of Queen Elizabeth, rock star Bono, and Canadian Prime Minister Justin Tricot in tax havens. They reveal how political elites use this secret world: more than 120 politicians from nearly 50 countries are involved in one way or another.
Source: amna-mpa
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