Between tax evasion and questionable investments, these personalities who take advantage of tax havens.
The International Consortium of Investigative Journalists has struck again. A year and a half after the revelation of the Panama Papers, which included the actress Emma Watson and the director Pedro Almodovar, it took twelve months of investigation, 381 journalists from 67 countries and 96 media partners to update, the November 5th, the Paradise Papers. A little overview of the many tax exiled personalities such as Bono, Madonna, Jean-Jacques Annaud and Shakira …
LEAKS DO NOT LIE *
The Paradises Papers were made possible by a leak of over 13.5 million confidential documents, including from the law firm Appleby, detailing information on offshore companies. It talks about investments in real estate or other projects, investments abroad or simply hiding copyright as is the case of Shakira.
The Colombian singer has, according to Le Monde, placed 31.6 million euros of copyright in tax havens like the Bahamas, where she owns a residence, Luxembourg, and Malta, argues his lawyer. The case would have no connection with the cancellation of the first dates of his new world tour. More Machiavellian, the case of Lewis Hamilton , who saved 4 million euros of VAT on the purchase of his private jet (a gem of 21 million) by registering on the Isle of Man and using a company screen to make believe in its commercial exploitation, sine qua non condition for the refund of this VAT.
BONO HAS THE BALLS
In the case of original investments, let’s mention those of Bono, which we recently saw in Rio, like Madonna, at the insane marriage of their manager Guy Oseary. The singer of U2 has invested in a shopping center in Lithuania via a Maltese company where, for foreign investors, the tax on profits made is only 5%. Bono reacted in a statement, saying ” totally disgusted if even as a minority investor and passive (…) his name could be involved in something a little illegal “. The singer affirms ” that he had obtained the assurance on behalf of the directors of the company that this one completely respected his fiscal obligations “. For its part, Madonna has invested in a medical supplies company in Bermuda. Finally, the actress Keira Knightley would have bet on a real estate company on the Anglo-Norman island of Jersey.
Relatives of Donald Trump, the very photogenic Justin Trudeau but also Elizabeth II and Prince Charles are quoted in the Paradise Papers. In the Cayman Islands and Bermuda, the sovereign would have placed tens of millions of pounds sterling. His son would have partnered to change some climate change agreements without revealing that his Duchy of Cornwall had invested in Bermuda in a society that would benefit. Ouch!
THE BAD TAXMAN
Apple, Nike, Uber and Total are among the companies whose name appears in the Paradise Papers. Hard to believe in chance or mismanagement. Lastly, there is the case of filmmaker Jean-Jacques Annaud. According to his lawyer’s own admission, the director is “a good filmmaker, but not an excellent tax expert “. In the question, the sum of 1.2 million euros whose tax did not see the color. This sum corresponds to what the director won in 1997 thanks to the world card of Seven Years in Tibet with Brad Pitt. The filmmaker’s lawyer pleads his good faith and announced on Radio France that his client was working to regularize his situation.