Paradise Papers :Hall of shame for Political leaders,Corporates

Money brings everything is universal notion. When Some one earns it he must know how to protect the same. A common man in the country foils so much to make both ends meet. He may have some idea about or meager necessity to hide his money that is defined as savings for him.

However Many people can become rich by their hard work and by sheer luck and the government eyes their wealth in the name of taxes which result in a nation-building and are utilised for the uplifitment of poor and provide opportunities for others so that they too become rich.

However the rich in a move to protect there wealth and expand their business wants exemptions of income tax and other benefits such as lower tax rates but the exemptions and tax rates vary globally and these companies utilise this advantage and establish there presence in countries where there is no tax or very low taxes.These countries are called Tax heavens. The major countries are British Virginia Islands, Switzerland, Maritius, Cyprus, Bermuda, Carrabiaen Islands.

The Companies/people companies open the business/subsidiary units in these countries in a sophisticated manner and hard to detect these and they utilise this money for various purposes.

However, from many years some group of Journalists collobrately formed International Consortium of Investigative Journalist (ICIJ) and the organization had unmasked some of the tricks used by companies and politicians to hide there wealth.

The ICIJ in 2013 has leaked documents pertaining to Switzerland HSBC bank and called Swiss leaks and later in 2016, they have leaked Panama papers how global politicians have hidden there unaccounted wealth in other countries. Recently the Paradise paper leaks has become sensational as the data revealed is much bigger than before and exposed the top global leaders.

The documents revealed the links between Russian firms investment in Social media sites, bonhomie relations between USA president and the Russian president, the dirty deals of Queen Elizabeth II of UK and the tax strategies followed by the top global companies such as Apple, Nike to avoid paying taxes.

The data has also shaken the India as papers would further unravel more secrets of some of the scams such as 2G, and other political leaders and film stars name have been revealed.

Finally, the leak has brought a sense of fear among the top corporates and politicians as they experienced the effect of Panama papers which resulted in outser of Pakistan Pm Nawaz Sharif.