On Sunday 5 November the International Consortium of Investigative Journalists (ICIJ) published new revelations about tax evasion and avoidance schemes. These revelations seem to be even more significant than the Panama Papers and Lux Leaks. The moniker they have bestowed on these leaks is Paradise Papers. Journalists have promised that this time the focus will not be so much on money laundering as on schemes that are used by multinationals for fiscal optimisation. Schemes which are formally legal according to current laws now are being questioned from the perspective of morality.
This blog that discusses the Paradise Paper revelations and their implications on upcoming legislatios is the personal opinion of Kristina Budrytė-Ridard, Director in FTI Consulting Brussels Financial Services Team