Tax avoidance boom: What Paradise Papers tell about political, biz elites

The Paradise Papers reveal the goings on of the elites of the offshore world - this time in the supposedly highly-regulated havens of the Cayman Islands, Bermuda, Singapore and the like

The so-called Paradise Papers may sound familiar – leaked documents from a law firm that specialises in offshore services reveal how the global elite avoids paying taxes. Even the name has the same ring to it as last year’s Panama Papers expose. But the Paradise Papers are different, reflecting the complexity of the global offshore tax system.

Panama is generally considered among tax haven experts as one of the least reformed corners of the offshore world. International rules regarding tax evasion and avoidance are intended to help national governments to pursue their own offenders, but the Panama Papers revealed that the