06:05 GMT24 October 2020
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    Last year the International Consortium of Investigative Journalists (ICIJ) released the so-called Panama Papers - high-profile cases of money laundering and tax avoidance - and now the story gets its continuation as 13.4 million new documents, dubbed "Paradise Papers", shed light on where the elite hide their wealth.

    BRUSSELS (Sputnik) – According to Le Soir newspaper, the word "Belgium" is mentioned in the Paradise Papers around 64,000 times. Further analysis revealed that the documents contain information on over 500 Belgian citizens and entities. The country is considered to be one of the richest in the Eurozone in terms of average net worth of financial assets per capita, and is home to the European Union's key political institutions and the 'Eurocrats' who work for them.

    The papers were released by the US-based International Consortium of Investigative Journalists (ICIJ), the organization behind the well-publicized Panama papers.

    This time ICIJ has published materials, based on the leaked database of the offshore activities of the powerful individuals and corporations. The database includes 13.4 million documents with information about a number of prominent figures including members of US President Donald Trump’s administration, Apple and Uber and even Queen Elizabeth of the UK.

    READ MORE: 'Paradise Papers' Leak: Should the Queen Brace for Public Uproar?

    The Panama Papers included thousands of leaked files from Panama-based law firm Mossack Fonseca, which have revealed alleged illegal finance practices of officials and public figures from various countries. Mossack Fonseca has refused to confirm that the leaked papers were authentic, although it claimed that it had been hacked.


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    paradise papers, offshore tax havens, tax avoidance, Queen Elizabeth II, Belgium
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