World trembling in Paradise scandal
The secret information related to the financial transactions and ownership of more than 25,000 organizations in the world has been leaked. This database of the rich, well-known and influential countries of 180 countries proved to be a tax evasion with their secret investment, money laundering.
Most of the information is benefiting financially by politicians of different countries, who are involved in a tax haven for tax avoidance (not paying taxes or at a very low rate of interest). So this scandal has been named ‘Paradise Papers’. After the local time on Sunday these papers were leaked in front of the whole world, there was a scream. The secret information of many people in the world has been leaked. Secret documents reveal the secret of human rights such as US President Donald Trump, Queen Elizabeth II of Britain, Canadian Prime Minister Justin Trudeau and others.
There are documents of wealth and economic activity of 127 politicians and government officials of at least 47 countries in the world including 14 current and former presidents of Paradise Papers. Saudi Arabia’s King Salman Bin Abdul Aziz, Argentine President Maurice McRae, President of the United Arab Emirates and Abu Dhabi Amir Khalifa Zayed Bin Sultan Al Nahyan, President of Ukraine Petro Prasenko, Former Canadian Prime Minister Paul Martin, Former Prime Minister of Pakistan Shawkat Aziz, Colombian President Huan Mai Nuyela Santos, President Ellen Johnson saralepha Libya, Jordan’s Queen Noor Al Hussein, Prince Mohammed bin Nayef bin Abdul Aziz of Saudi Arabia over the person’s name.
Not only that, there are more than 700 names in India. The Paradise paper has said that the people living abroad have used their money in different places to save money. They do not pay taxes or they can choose to invest in nominal taxes. Many have done these transactions behind all eyes. Names of many who have been involved in such a secret investment for money income have already been published. It is known that further names will be released. Like last year’s leaked Panama papers, these documents come first in the hands of the German daily Swedish Sightong. Later, they handed over the documents to the International Consortium of Investigative Journalists (ICIJ). There are more than 1,400 gigabytes of data in this database of 1 crore 34 million hidden documents.
Approximately 68 million documents are from offshore legal services company Appleby and corporate service agency Estera. Until Astara was separated in 2016, the two companies together operated in Appleby. More than 60 million documents were released from the Corporate Registry of 19 courts. Most of the courts in the Caribbean region A few other documents have been found from the Asia-City Trust, Singapore-based International Trust and Corporate Services Agency. The documents leaked to paradise paper contain information from about 70 years from 1950 to 2016. The BBC, the Guardian, and the 100 media of different countries have received these documents. ICIJ has released the information on their website on November 5.
