Tar0t6 A About Parama Papers All About Panama Papers By Shubhra - April 26, 2016 We all know about the Swiss Bank case, and the money laundering cases there. Also some time ago Swiss Bank revealed names of those Indians who had maintained accounts there. Now the master of that information, Panama Papers has leaked which has shocked the whole World with the information in it. Panama Papers is a global investigation which contains the list of persons who use offshore industries (setting up industries in foreign countries or investing in foreign countries) to hide their assets. Important about the leak: In the last one year, around 400 journalists from more than 100 media organizations in over 80 countries have taken part in researching the documents which have been leaked now. ipdhwwwafiscloud comfal-dbot-panama-papers! usazote ‘AL About Params Papers + The leak consisted of 11.5 million documents from Mossack Fonseca, a Panamanian law firm. The papers were initially released to German newspaper Siiddeutsche Zeitung. The newspaper then partnered with the International Consortium of Investigative Journalists cic), + The documents showed the internal dealings, emails, invoices, and documents shared between the world’s elite and the lawyers paid to help them retain their wealth, + The papers named 140 politicians from more than 50 countries linked to offshore financial dealings in more than 20 tax havens. + For example, Apple's global sales go through its subsidiary company in Ireland, which has lower corporate income tax. Individuals can’t really do this. Instead, they can go to law firms like Mossack Fonseca to set up inactive companies, called shell companies, the sole purpose of which is to hold financial assets. + Journalists from media organizations like BBC, Guardian, Siiddeutsche Zeitung, and The Indian Express among others have also worked on the project. * The Papers have revealed names of thousands of people from across the world who escaped from paying tax and laundered money by taking help from Mossack Fonseca. About Mossack Fonseca: + Mossack Fonseca is a law firm based in Panama, Founded in 1977, it is the world’s fourth biggest provider of offshore services. + Mossack Fonseca says it complies with international protocols to ensure its companies are not used for money laundering, tax dodging or other illicit purposes. * But the Panama Papers have proved this wrong. Tax Haven: ipdhwwwafiscloud comfal-dbot-panama-papers! 2a