What do Amitabh Bachchan, the Queen of England, Russian state financial institutions and Nike have in common? Well, they're all named by Paradise Papers for using tax havens to hide their real wealth.
Almost 13.4 million files, amounting to the size of 1.4 TB data known as Paradise Papers were acquired by a German newspaper, Süddeutsche Zeitung. The newspaper has not disclosed its source. However, the raw data, as The Guardian reports has come from offshore service providers.
Now, before we start learning more about what names Paradise Papers has leaked and why, let's have a look at how tax havens work.
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