The Paradise Papers are a set of over Some of the details were made public on 5 November and stories are still being released. The documents originate from the legal firm Appleby , the corporate services providers Estera and Asiaciti Trust , and business registries in 19 tax jurisdictions. Secretary of Commerce Wilbur Ross. The released information resulted in scandal, litigation, and loss of position for some of the named, as well as litigation against the media and journalists who published the papers.
On 20 October , an anonymous Reddit user hinted at the existence of the Paradise Papers. Appleby said that some of its data had been stolen in a cyberattack in the previous year and denied the ICIJ's allegations. Appleby stated the firm "was not the subject of a leak but of a serious criminal act", and "this was an illegal computer hack". The company added: "Our systems were accessed by an intruder who deployed the tactics of a professional hacker".
According to the BBC , the name "Paradise Papers" reflects "the idyllic profiles of many of the offshore jurisdictions whose workings are unveiled", so-called tax havens , or "tax paradises". The data breach comprises some The consortium made the data available to these media partners using Neo4j , [17] a graph-database platform made for connected data, and Linkurious , [18] graph-visualization software. This allowed journalists across the globe to undertake collaborative investigative work.
The documents were released by the consortium on 5 November Apple criticised the reports as inaccurate and misleading, saying that it is the largest taxpayer in the world, and it "pays every dollar it owes in every country around the world". A great deal of the company's intangible property was exposed around the time of an internal Apple Inc. This may indicate that Apple took advantage of a tax incentive known as a capital allowance, which gives Irish companies generous tax breaks for buying intangible property โ essentially intellectual property like patents.
In other words, Apple some suggest transferred them to a subsidiary located in Ireland for the tax incentives, and didn't have to pay any tax on the transaction in Bermuda either, on the value it declared on the property when it sold them to itself.
