'Panama Papers' Group Strikes Again with 'Paradise Papers' (theguardian.com)

Long-time Slashdot reader Freshly Exhumed tipped us off to a new document leak that's just revealed massive tax havens used by the world's most wealthy and powerful people. An anonymous reader quotes the Guardian: The material, which has come from two offshore service providers and the company registries of 19 tax havens, was obtained by the German newspaper Suddeutsche Zeitung and shared by the International Consortium of Investigative Journalists with partners including the Guardian, the BBC and the New York Times. The project has been called the Paradise Papers.
It's the same group responsible for the Panama Papers, and the Guardian reports that in these 13.4 million new files, journalists have discovered:

• "How Twitter and Facebook received hundreds of millions of dollars in investments that can be traced back to Russian state financial institutions."

• "Aggressive tax avoidance by multinational corporations, including Nike and Apple."

• "Extensive offshore dealings by Donald Trump's cabinet members, advisers and donors, including substantial payments from a firm co-owned by Vladimir Putin's son-in-law to the shipping group of the US commerce secretary, Wilbur Ross."

• "The tax-avoiding Cayman Islands trust managed by the Canadian prime minister Justin Trudeau's chief moneyman."

"The publication of this investigation, for which more than 380 journalists have spent a year combing through data that stretches back 70 years, comes at a time of growing global income inequality," reports the Guardian. "Meanwhile, multinational companies are shifting a growing share of profits offshore -- €600 billion in the last year alone -- the leading economist Gabriel Zucman will reveal in a study to be published later this week. "Tax havens are one of the key engines of the rise in global inequality," he said."

Comments

Re:Another Trump apologist bites the dust

[Anonymous Coward]

Uh, dude. She won the primary election because more people voted for her. Give it up already.

Nobody cares.

yes, everyone is connected to Russia. EVERYONE!

[superwiz]

The moment USSR fell appart and open transactions started happening, everyone who traded with someone could find some connection to Russia. The article shows 4 degrees of separation between Kremlin and FB. There is usually no more than 6 degrees of separation between any 2 americans. Of course, the FB itself probably makes the number of degrees of separation much smaller. So there is probably no more than 5 degrees of separation between any 2 americans. All this shows is how ridiculous the whole Russia conspiracy theory is. RF acts as an aggressive corporate state. While the Left is trying to portray it as some remnant of former Soviet state. There is a lot of corporate interconnections between international corporations and all civilized countries. RF part of G8!!! Does anyone think that having Coke and McDonald's there imply Coke's complicity in stealing elections? Why would anyone going into business with the same people as the ones who operate some other business which finances something in Russia even mean anything? How is this anything but Democrats trying to divert attention from their own criminal actions by claiming something neferious when there is nothing that ever materialized.

"Aggressive tax avoidance "?

[jcr]

Since when is it "aggression" to keep what you earn?

Every dollar kept out of government hands is a dollar not spent on causing bloody mayhem. As an Apple shareholder, I wish they'd get a lot MORE proactive about saving my money and zero out their tax payments the way that GE does.

-jcr