Paradise Papers: SA names aplenty in huge tax leak
High-profile South Africans linked to questionable practices, with Glencore, Standard Bank and Shanduka named
High-profile South Africans and local institutions are flagged in the biggest tax leak since the Panama Papers, which is set to cause ripples among many who have stashed their wealth in offshore tax havens. Most of the 13.4-million documents, which emerged from more than 19 “secrecy jurisdictions”, relate to Appleby, an elite law firm with offices in offshore jurisdictions across the globe, and its corporate services provider Estera, which operated together under the Appleby name until 2016. This leak — dubbed the Paradise Papers — highlights damning cases of tax abuse and questionable practices involving multinational companies, politicians, celebrities, wealthy executives and royals. It includes previously hidden details of corporate registries from countries infamous for ensuring high levels of secrecy. Disclosures in the Paradise Papers are likely to lead to tough questions for US President Donald Trump over the business links of his billionaire Commerce Secretary Wilbur Ross wi...
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