A huge trickle of facts involving tax documents was dubbed in the Panama papers that uncovered a lot of fiscal dealings of much rich and reputed names of the world including Xi Jinping, Nawaz Sharif, Lionel Messi and some half a thousand Indian actors, industrialists and gangsters from Mumbai.
Here Is A List Of 10 Points About The Volatile Panama Papers.
- Basing on some of the relevant information and documents, the Indian Express along with the collaboration of media outlets has exposed ambushed dealings in the forms of assets from over 140 names of politics other than film, sports, and celebrity.
- A total of 300 or number of journalists has been trawling hefty amounts of records that span 40 years from the law firm Mossack Fonseca based in Panama. It has been a pioneer in rambling secret industries for keeping assets confidential and giving them way from other companies.
- According to the investigation reports from The Indian Express that has been over a span of eight years, it has been found that more than 500 Indian names were found out of 36000 files that had dealings with the offshore companies. Moreover, the authenticity of the report has been checked too.
- Indians were initially denied from floating entities before the year 2003. The process was given an allowance in the year 2004, and the individuals were allowed with some limit. In the Panama papers, it is found that most of the cases of floating have been done before the law was changed.
- The Panama paper comes out during a time when the Special Investigating Team that is made by the government takes a report. A total of Rs 3770 crore was brought in with a 90 day compliance scheme.
- The eminent names including the former heads include the Chinese President Xi Jinping, Pakistan Prime Minister Nawaz Sharif and the king of Saudi Arabia.
- The papers accuse Xi Jinping and his family members of having offshore accounts. Jinping did lead a very high standard anti-corruption drive in China that targeted properties that were acquired against the law.
- The investigation results accuse the closely related members of the Russian President Vladimir Putin of shuffling as much as $2 billion in a secret mission via the banks and ordinate companies.
- Famous footballer Lionel Messi is found owning a shell company that was never discovered Spanish investigation to the footballer’s tax issues.
- Even if maximum of the allegation deals happens to be legal, they are sure to put a very bad political effect on the people named under the International Consortium of Investigative Journalists.