Paradise Papers Release Reveals More Offshore Secrets
A year and a half after the release of the Panama Papers, another large data leak regarding offshore entities has been published. In November 2017 the International Consortium of Investigative Journalists released the Paradise Papers in cooperation with the German newspaper Süddeutsche Zeitung. The Paradise Papers primarily consist of documents leaked from the prominent offshore law firm Appleby, and contains names of more than 120,000 people and companies with holdings in offshore tax havens.
At least one expert interviewed says that the legality of these tax loopholes is inevitably going to come up in debates on tax reform, most notably in the United States where a large tax bill is currently working its way through Congress. Regardless of what is contained in these documents, the effects of the Paradise Papers could potentially be as significant as the Panama Papers, and we at Smith Brandon International will be keeping a close watch on what develops, and we will be adding the Paradise Papers to the list of sources we regularly check for all of our investigations.
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