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Has Achieved Nirvana
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posted
A look inside the inner workings of the world.

quote:

A trove of 13.4 million records exposes ties between Russia and U.S. President Donald Trump’s billionaire commerce secretary, the secret dealings of the chief fundraiser for Canadian Prime Minister Justin Trudeau and the offshore interests of the queen of England and more than 120 politicians around the world.

The leaked documents, dubbed the Paradise Papers, show how deeply the offshore financial system is entangled with the overlapping worlds of political players, private wealth and corporate giants, including Apple, Nike, Uber and other global companies that avoid taxes through increasingly imaginative bookkeeping maneuvers.

One offshore web leads to Trump’s commerce secretary, private equity tycoon Wilbur Ross, who has a stake in a shipping company that has received more than $68 million in revenue since 2014 from a Russian energy company co-owned by the son-in-law of Russian President Vladimir Putin.

In all, the offshore ties of more than a dozen Trump advisers, Cabinet members and major donors appear in the leaked data.

The new files come from two offshore services firms as well as from 19 corporate registries maintained by governments in jurisdictions that serve as waystations in the global shadow economy. The leaks were obtained by German newspaper Süddeutsche Zeitung and shared with the International Consortium of Investigative Journalists and a network of more than 380 journalists in 67 countries.


https://www.icij.org/investiga...ealthiest-1-percent/


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Bazootiehead-in-training


 
Posts: 22227 | Location: Somewhere in the middle | Registered: 19 January 2010Reply With QuoteReport This Post
Has Achieved Nirvana
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From the Beeb

quote:
A huge new leak of financial documents has revealed how the powerful and ultra-wealthy, including the Queen's private estate, secretly invest vast amounts of cash in offshore tax havens.

Donald Trump's commerce secretary is shown to have a stake in a firm dealing with Russians sanctioned by the US.

The leak, dubbed the Paradise Papers, contains 13.4m documents, mostly from one leading firm in offshore finance.

BBC Panorama is part of nearly 100 media groups investigating the papers.

As with last year's Panama Papers leak, the documents were obtained by the German newspaper Süddeutsche Zeitung, which called in the International Consortium of Investigative Journalists (ICIJ) to oversee the investigation. The Guardian is among the nearly 100 media partners involved in investigating the documents.

Sunday's revelations form only a small part of a week of disclosures that will expose the tax and financial affairs of some of the hundreds of people and companies named in the data, some with strong UK connections.

Many of the stories focus on how politicians, multinationals, celebrities and high-net-worth individuals use complex structures of trusts, foundations and shell companies to protect their cash from tax officials or hide their dealings behind a veil of secrecy.

The vast majority of the transactions involve no legal wrongdoing.


http://www.bbc.com/news/uk-41876942


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Bazootiehead-in-training


 
Posts: 22227 | Location: Somewhere in the middle | Registered: 19 January 2010Reply With QuoteReport This Post
Pinta & the Santa Maria
Has Achieved Nirvana
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quote:
The vast majority of the transactions involve no legal wrongdoing.


This is the part of the tax structure in the US that needs to be addressed, not how to create a tax cut that will allow the top 1% of individuals and major corporations to hide more and more of their wealth in tax-free shelters.
 
Posts: 31344 | Location: West: North and South! | Registered: 20 April 2005Reply With QuoteReport This Post
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