Panama Papers

Panama Papers News

New offshore records reveal several Indian firms tapped Mauritius route to save on taxes

The Double Taxation Avoidance Agreement (DTAA) was signed between India and Mauritius in 1982. Under this, any entity could apply for tax residency and pay zero capital gains tax. This became the principal reason why Mauritius emerged as a top channel for investments being routed into India.

Switzerland set to transfer details of Indian account holders in HSBC

The Indian Express has learnt that around six weeks ago, individual Indian account holders received communications from the FTA that the Indian request for banking details meets the requirements specified in the DTA (double taxation agreement) signed by the two countries as well as of the 2012 Federal Act on International Administrative Assistance.

Advertising

US: Four men charged in Panama Papers investigation

Federal prosecutors say the law firm Mossack Fonseca conspired to circumvent US laws to maintain the wealth of its clients and conceal tax dollars owed to the IRS.

Frankfurt prosecutor says Deutsche Bank raid continues for second day

The large volume of material being examined meant the search was still going on, prosecutors said, adding that offices of board members were included in the search without giving further details.

Deutsche Bank offices raided in money laundering probe

The prosecutors said they are looking at whether Deutsche Bank may have assisted clients to set up offshore companies in tax havens so that funds transferred to accounts at Deutsche Bank could skirt anti-money laundering safeguards.

Rahul Gandhi says linked MP CM's son to Panama Papers out of 'confusion'

"In Panama Paper leak case, Madhya Pradesh chief minister has no role," Gandhi told a select group of journalists when asked about his comments during a rally in Jhabua district of poll-bound Madhya Pradesh on Monday.

Advertising

ISI officer included in Panama case JIT against Sharif to 'spice it up', says Pak chief justice

Chief Justice Nisar made the remarks during the hearing of a suo moto case regarding Rs 35 billion worth shady transactions from and to the account of Zardari Group, a business owned by the former president and Pakistan Peoples Party co-chairman Asif Ali Zardari and his sister Faryal Talpur.

Panama Papers: Politician to chawl resident, first cases sent to court

Panama Papers: At least 16 Indians face prosecution, cases were filed after foreign jurisdiction sent information on holdings, asset.

Pakistan court sentences ousted PM Nawaz Sharif to 10 years imprisonment in corruption case

The court delivered the verdict after postponing it four times in the Avenfield corruption case - pertaining to the ownership of four flats in the posh Avenfield House in London.

'We Resign': That's what Mossack Fonseca told these Indian clients after Panama Papers leak

Email exchanges reveal that Mossack Fonseca did not have several crucial documents needed to complete due diligence requirements to set up offshore firms for these clients

Panama Papers Photos

Imran Khan's PTI celebrates ouster of Pakistani Prime Minister Nawaz Sharif

The Pakistan Supreme Court disqualified Prime Minister Nawaz Sharif from holding public office in its verdict on the Panama Papers scandal.

Panama Papers: The big names that found a place in the list

Panama Papers: More than 11 million documents from the secret files of Mossack Fonseca, a law firm headquartered in tax haven Panama, were accessed by Munich-based newspaper Suddeutsche Zeitung which collaborated with ICIJ and over 100 media organisations, including The Indian Express, to investigate its contents

Advertising

Panama Papers Videos

How Did The Indian Express Investigate The Paradise Papers?

The Paradise Papers is the fourth collaborative investigation into offshore and banking assets done by The Indian Express with the ICIJ. Among the 180 countries represented in the data, India ranks 19th in terms of the number of names. In all, there are 714 Indians in the tally. A trove of 13.4 million corporate records, […]

Pakistan PM Nawaz Sharif Disqualified By Court

Pakistan Prime Minister Nawaz Sharif, who was named in the Panama Papers investigation, has been disqualified from holding public office in a unanimous verdict by the Supreme Court of Pakistan. It has also ordered a case against the prime minister to be referred to the NAB (National Accountability Bureau). Justice Ejaz Afzal Khan said on […]

Advertising

Panama Papers Probe In India Gathers Pace As ED Issues Advisories To 137 Indians

The Panama Papers probe in India has gathered pace with the Enforcement Directorate (ED) dispatching what is being described as “advisories” to over 100 people named in the global media investigation. Officials in ED told The Indian Express that over the past two months, they have sent 137 “advisories” under Section 37 of the Foreign […]

Panama Papers: Ajay Devgan Took Over An Offshore Firm, Says Government Knows

Actor-entrepreneur Ajay Devgan, born Vishal Veeru Devgan, bought over the entire shareholding of a British Virgin Islands (BVI) company Marylebone Entertainment Limited in 2013, claiming it was done to acquire and exploit overseas rights of Hindi films. – See more at: https://indianexpress.com/article/india/india-news-india/panama-papers-panama-papers-india-list-ajay-devgan-company-rbi-2783369/#sthash.qwHIOh8K.dpuf

Panama Papers: Who Went Offshore Before RBI Eased Forex Limit?

Indians had discovered the advantages of going offshore — setting up entities in tax havens — long before the government and Reserve Bank of India (RBI) allowed resident individuals to take money out of the country. The Foreign Exchange Regulation Act (FERA), aimed at conserving foreign exchange, did not deter them despite the threat of […]

Panama Papers: How Mossack Fonseca Helped Stash Away Billions Of Dollars

Individuals who have set up offshore entities through the Panama law firm. Some of the Indians floated offshore entities at a time when laws did not allow them to do so; some have taken a technically convenient view that companies acquired is not the same as companies incorporated; some have bunched their annual quota of […]

Advertising

Panama Papers: Big Names In The Indian List

Thousands of Mossack Fonseca (MF) documents reviewed by The Indian Express and subsequent enquiries reveal that the Sharif family mortgaged four of these properties to the Deutsche Bank (Suisse) SA for a loan of GBP 7 million and the Bank of Scotland part financed the purchase of two other apartments. An eight-month investigation involving 25 […]

Panama Papers: Big Names In The Global List

The leaked records from MF — which were reviewed by more than 370 journalists of the International Consortium of Investigative Journalists (ICIJ), including from The Indian Express, from 76 countries — show that it is one of the largest factories of offshore entities in the world, with branches in Hong Kong, Miami, Zurich and more […]

Explained: What Do The Panama Papers Reveal

Individuals who have set up offshore entities through the Panama law firm. Some of the Indians floated offshore entities at a time when laws did not allow them to do so; some have taken a technically convenient view that companies acquired is not the same as companies incorporated; some have bunched their annual quota of […]

Panama Papers: A Peek Into India Express' 8 Month Long Investigation

Thousands of Mossack Fonseca (MF) documents reviewed by The Indian Express and subsequent enquiries reveal that the Sharif family mortgaged four of these properties to the Deutsche Bank (Suisse) SA for a loan of GBP 7 million and the Bank of Scotland part financed the purchase of two other apartments.

Advertising