Ground Report | New Delhi: What are Pandora Papers; The industry of secret fortune works in a relatively simple way. Every boss, lawyer or frontman knows their role and the rules they need to respect or bypass. And everything works like a Swiss watch. Viewed from the outside, the overview can become cloudy. These are important points for understanding the Pandora Papers, allowing analysis of the region from its own nerve center.
What are Pandora Papers?
The Pandora Papers is the name given to a journalistic investigation based on a massive leak of confidential documents from 14 law firms dedicated to building companies in countries. The 6.4m documents and 1.2m emails in the trove are written in English, Spanish, Mandarin, Korean, Russian, and Greek.
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Over the course of nearly two years, more than 11.9 million files have been analyzed, including text documents, spreadsheets, emails, and images. There are certificates of incorporation, a list of shareholders, invoices, passports, travel records… together, they form an unprecedented snapshot of the hidden side of international finance and shed light on the secrets of tax havens and professionals who reach act as a bridge. these jurisdictions. The leaks point to more than 27,000 companies formed between 1971 and 2018 and their approximately 30,000 beneficiaries.
What do the Pandora Papers reveal?
The Pandora Papers reveal how the rich, famous, and infamous, many of whom were already on the radar of investigative agencies, established complex multilevel trust structures for estate planning that are loosely regulated for tax purposes But characterized by air-tight privacy laws.
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The Pandora Paper will surpass any previous journalistic investigation in history in shedding light on the financial affairs of the political elite, including 35 current and former heads of state and more than 300 public officials. We believe that these political figures and their wealthy donors deserve special scrutiny, not least because voters can make informed choices.
six Indian politicians
At least six Indian politicians have been linked to offshore deals, according to a map submitted by ICIJ. Millions of documents leaked under the name of the Pandora Papers and a worldwide journalistic partnership on Sunday claimed to have exposed the financial secrets of current and former world leaders, politicians and public officials in 91 countries and territories, including India.
The International Consortium of Investigative Journalists (ICIJ), which included the BBC and ‘The Guardian’ newspapers in the UK and ‘The Indian Express in India, claimed among 150 media outlets in its investigation that it had obtained over 11.9 million confidential data. did. Files to trace the secret financial transactions of many super-rich.
The ICIJ said in its report, “People linked to the secret documents include India’s cricket superstar Sachin Tendulkar, pop music diva Shakira, supermodel Claudia Schiffer and an Italian mobster known as ‘Lay the Fat One’. “
“Mr. Tendulkar’s lawyer said the cricketer’s investment is legitimate and has been declared to the tax authorities. Ms. Shakira’s lawyer said the singer declared her companies, which the lawyer said do not provide tax benefits. Ms. Schiffer’s representatives said the supermodel correctly pays her taxes in the UK, where she lives,” it notes.