The Federal Board of Revenue is examining the Paradise Leaks papers, said a spokesperson from the organisation. According to report, the papers mention the names of 135 Pakistani nationals, including former Prime Minister Shaukat Aziz. Pakistanis, whose name has appeared in the latest data dump of financial papers, will be issued a notice in the regard. The spokesperson added that the list of names is extensive and all those Pakistani nationals named in the papers will be investigated, added the FBR statement. The Paradise Papers is a database comprising around 13.4 million documents, which reveals over 25000 companies owned by the world’s rich and influential individuals.
The documents were obtained from two companies in Singapore and Bermuda by a German newspaper and shared with the ICIJ. A major part of the Panama Papers comprises leaked files from company Appleby. The files reveal data of over 25,000 companies owned by individuals from 180 countries, from 1950 to 2016. 127 politicians and public officials (14 current or former country leaders included) from more than 47 countries
Paradise Papers is bigger in number of records (13.5 million in Paradise Papers vs. 11.5 million in Panama Papers) and Panama Papers is bigger in terms of size of the leak (1.4 Tb in Paradise Papers vs. 2.6 Tb in Panama Papers).
It is one of the biggest leaks in the history of journalism instead of the biggest, and then one may also compare some of the different figures related to the data size between Paradise Papers and previous leaks. Revelations in Paradise Leaks after the Panama leaks show that elite class of different countries are accumulating wealth in safe heavens through illegal means. It is a collapse of world’s economic system which is protecting the interests of elite class and it is injustice to poor people who are being deprived of their rights. Rich people are becoming richest and as a result other population is facing abject poverty. Although FBR has claimed that it is investigating the matter but in fact it will not be able to bring concrete result as it was seen in Panama Papers. In Panama Leaks FBR had issued notices to Pakistani citizens mentioned in the leaks but so far failed to get any breakthrough. The FBR and other relevant institutions need to increase their capacity building to curb this menace and they should expedite the inquiry regarding tax evasion and money laundering named in these Leaks. Steps at global level are also needed to stop illegal accumulation of wealth through tax evasion and money laundering.
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