In 2016, 115 million tax documents from a Panama-based law firm in the UK were leaked. In this, the names of big leaders, businessmen and big personalities from all over the world came out. Talking about India, the names of about 500 people came out. It also includes the name of the Bachchan family. According to a report, Amitabh Bachchan was made a director of 4 companies. Of these, three were in the Bahamas, while one was in the Virgin Islands. These were made in 1993. The capital of these companies was between 5 thousand to 50 thousand dollars, but these companies were doing business of those ships, whose value was in crores.
What is the case with the Panama Papers case?
A few years ago, 115 million tax documents of a Panama-based law firm were leaked in the UK. It told how Vladimir Putin, Nawaz Sharif, Xi Jinping and footballer Messi amassed huge wealth in tax haven countries. Leaked tax documents revealed how 140 politicians and hundreds of celebrities from around the world had pumped money into tax haven countries. These people created shadow companies, trusts and corporations and saved tax through them. The leaked list talks specifically about investments in Panama, the British Virgin Islands and the Bahamas. The people who came under the scanner invested in these countries because the tax rules are very easy here and the identity of the customer is not disclosed. There are over 3.50 lakh such secret international trading companies in Panama.
How was the document found and who found it?