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Paradise Papers: Apple, Nike, celebrities & more exposed in the tax leak of the year

Other | Monday 6th November 2017 | Claudia

Hackers have revealed a murky underworld of tax evaders, those involved include heads of state, political figures, entertainers, and sportsmen.

Big businesses, the wealthy and political figures have been exposed this week to having protected their wealth in secret tax havens. This newly found evidence is being called the 'Paradise papers', and has uncovered Britain's offshore empires as a whole. 

These leaked details came from 13.4 million exposed files of tax misconduct that were being allowed to thrive with ridiculously complex systems, that allowed the rich and wealthy corporations to legally protect their money without the hassle of taxing.

This information was obtained by German newspaper Süddeutsche Zeitung and shared by the International Consortium of Investigative Journalists.

The paradise papers revealed shocking details on the Queen's private estate that had been placed in the Cayman Island fund, with some money going towards a retailer accused of exploiting vulnerable workers.

Nike and Apple have also come under fire with leaks of tax avoidance along with other wealthy corporations.

Mrs Brown's Boys actors Patrick Houlihan, Martin and Fiona Delany have also been exposed, the trio transferred their wages to companies in Mauritius and sent their money back as loans.

Lewis Hamilton was also revealed avoiding VAT payment on his private jet and using the Isle of Man as a tax haven, which provided him with a tax relay of £3m in return.

Appleby a law firm with outposts in Bermuda, the Cayman Islands, the British virgin islands, the isle of man, jersey, and Guernsey has found itself at the centre of the leak. The company prides itself on being on top of its offshore service providers.

The organisation has come out saying that it has investigated all allegations and found “there is no evidence of any wrongdoing, either on the part or our clients”.

“We are a law firm which advises clients on legitimate and lawful ways to conduct their business. We do not tolerate the illegal behaviour.”

Jeremy Corbyn has called for an inquiry on individual companies dodging taxes. But until our rich, and powerful are held accountable these tax havens will provide the wealthy with a way out of the shared responsibility of distributing their wealth to societies needed public services.

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