Click on a tax haven to learn more about their risks
The recent huge leak of financial documents revealing how the ultra-rich are secretly investing large amounts of cash in tax havens is the biggest such leak since the Panama Papers last year.
Here is what we know so far:
- The leak of documents mainly exposes one leading financial law firm based in Bermuda.
- The 13.4 million documents shed light on how the super-rich and powerful of the world hide their wealth to avoid paying tax.
- In the US, Wilbur Ross, commerce secretary in Donald Trump’s administration, has business links with Russian allies of President Vladimir Putin who are under US sanctions.
- In Canada, Stephen Bronfman, chief fundraiser for Prime Minister Justin Trudeau’s party is linked to offshore schemes that may have cost the nation millions of dollars in taxes.
- About £10m of Queen Elizabeth II’s private money was invested offshore.
- Everton Football Club is under investigation the leaks suggest owner Farhad Moshiri’s puchase of almost 50% of Everton was funded as a “gift” by Arsenal shareholder Alisher Usmanov.
- Appleby, a law firm that helps corporations, financial institutions and high-net-worth individuals set up and register companies in offshore jurisdictions, is at the center of the leak.
Interactive tax havens map shows where the highest risks are
The interactive map above shows where the wealthy are most likely to hide their money. You can learn about each tax haven by clicking on the a country. This map is part of our course Tax Evasion: Failure to Prevent.