Polish Fin Min calls for int'l tax regulation following Paradise Papers leak

Polish Fin Min calls for int'l tax regulation following Paradise Papers leak

Polish Fin Min calls for int'l tax regulation following Paradise Papers leak

In addition to the 64-year-old Allen, the cache of 13.4 million confidential documents outlined the offshore investment agreements of luminaries around the world, ranging from England's Queen Elizabeth to U.S. Secretary of Commerce Wilbur Ross, Madonna to Paul Hewson (aka Bono from U2).

First obtained by the German newspaper Süddeutsche Zeitung, the documents were then shared with scores of journalists and researchers associated with the International Consortium of Investigative Journalists and other media organizations, including the New York Times, BBC, and the Guardian.

Microsoft co-founder and Seahawks owner Paul Allen was among the notable figures named in the release of the leaked Paradise Papers Sunday.

According to the BBC: "The "Paradise Papers" name was chosen because of the idyllic profiles of numerous offshore jurisdictions whose workings are unveiled, including Bermuda, the headquarters of the main company involved, Appleby".

The two law firms who are in the eye of the expose are Bermuda firm, Appleby and Singapore-based Asiaciti that helped the big-shots shuffle money from and to tax havens to avoid or evade taxes.

One third of the names can be linked to worldwide shipping and offshore companies, and in many cases both the companies and companies in these countries are publicly known.

Bollywood veteran Amitabh Bachchan, Sanjay Dutt's wife Manyata Dutt, corporate lobbyist Niira Radia, Union minister Jayant Sinha and Vijay Mallya are among Indians named in the list.

As the ICIJ reports, the "trove of 13.4 million records exposes ties between Russian Federation and U.S. President Donald Trump's billionaire commerce secretary, the secret dealings of the chief fundraiser for Canadian Prime Minister Justin Trudeau and the offshore interests of the Queen of England and more than 120 politicians around the world".

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