Just two days ahead of Anti-Black Money Day on Nov 8, also the first anniversary of Demonetisation, Paradise Papers have revealed shocking details. Our very own Telugu leader and businessman YS Jagan Mohan Reddy’s name has been figured in the list of people, companies who are allegedly involved in off-shore tax havens.
The name of YS Jagan ahead of his Praja Sankalpa Yatra (Padayatra) from Nov 6,2017, his name in Paradise Papers are expected to create a political storm in AP. This is expected to be a huge weapon for arch rival and ruling TDP.
What are Paradise Papers
The Paradise Papers are a set of 13.4 million leaked documents relating to offshore investment. It contained several rich individuals and companies that are evading taxes and moving money to abroad. The crucial documents were leaked on 5 November 2017 to public. The papers include records leaked from an offshore law firm Appleby.
From Andhra Pradesh (India), YS Jagan Mohan Reddy’s name figured in the list. The other Indians in the list were Vijay Mallya, Karti Chidambaram, Sachin Pilot, Union Minister Jayant Sinha, corporate lobbyist Niira Radia are also there in the list.
The data was investigated by the International Consortium of Investigative Journalists (ICIJ) working in partnership with 96 news organisations.
In India, The Indian Express, just as it did with the Panama Papers, investigated these records for over 10 months to come up with the India findings. The news paper stated that it will publish in a series of over 40 investigative reports beginning from Nov 6, 2017.
The Paradise Papers have also named a few prominent Bollywood stars including Amitabh Bachchan, Sanjay Dutt’s wife Manyata.
World’s Popular Names
Queen Elizabeth II, President of Colombia Juan Manuel Santos, US Secretary of Commerce Wilbur Ross, singers Bono and Madonna names were among 127 globally knwon persons linked to offshore tax havens.
More than a dozen cabinet members in Donald Trump, his major donors, advisers were named in the documents.
Russian President and one of world’s powerful leaders Vladimir Putin’s son-in-law Kirill Shamalov was also linked to off-shore tax haven.
Facebook, Apple, Microsoft, EBay, Glencore, Uber, Nike, Walmart, Allianz, Siemens, McDonald’s and Yahoo are also among the companies owning offshore companies according to the papers. According to The Express Tribune, “Apple, Nike, and Facebook avoided billions of dollars in tax using offshore companies.