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Iceland Not Prominent In Paradise Papers

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Iceland Not Prominent In Paradise Papers

Cayman Islands

The Cayman Islands were among the tax havens that individuals and companies around the world used to avoid taxes and to hide assets. Photo: Ray Bodden/Wikipedia

Unlike last year’s Panama-paper scandal, Iceland isn’t prominent in the newly released Paradise Papers, according to Reykjavik Media.

Of the roughly 13.4 million documents that have leaked, a few dozen Icelandic names have been found. The Paradise Papers provide insight into tax havens around the globe, as well as wealthy individuals and companies that have taken advantage of them in order to pay fewer taxes or hide their assets.

The documents were acquired through the Appleby law firm in Bermuda and the Asiaciti fund in Singapour. They provide information from 19 company directories on known tax havens such as Malta, Bermuda and the Cayman Islands. German paper Süddeutsche Zeitung originally gained access to these documents and shared them with investigative journalists around the world, including Iceland’s Reykjavik Media, which handled the Panama Paper leaks that eventually lead to the resignation of former Prime Minister, Sigmundur Davíð Gunnlaugsson.

Compared to the Panama Papers, not many Icelanders were featured in this leak. This time, no Icelandic politician came up in the documents. Out of the Nordic countries, Iceland ranks in the bottom with Norway leading the way with around one thousand names. RÚV will provide insight into the Icelandic names that did pop up on Tuesday.

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