The Paradise Papers Explained

Photo Credit: Cypress Business Mail

What are the Paradise Papers? 

They are more than 13 million electronic documents that were leaked from two law firms to a group of journalists. These papers contain details of investments made by individuals and companies from many countries around the world in off-shore locations (i.e. outside their home countries). Some people believe that these investments were made by these people/companies to avoid paying tax to their respective governments. We all need to pay our taxes, because that’s how the government gets resources to build roads and bridges, clean our cities, and have schools and hospitals.

So how do you avoid paying taxes in off-shore locations? There are many locations, a lot of them beautiful islands (!) that offer a lower tax rate than that decided by other governments. So for example, some companies set themselves up there so that they have to pay a lower level of tax. They may set themselves up in an off-shore island but mainly carry out their business in other parts of the world.

However, just because someone’s name is on that list does not mean that they are guilty of avoiding taxes. There are many legal ways to invest offshore, and only investigations will reveal whether people were trying to avoid taxes.

Why is this called ‘Paradise Papers’ and how is this different to the ‘Panama Papers’ last year? The Panama Papers were named because the law firm they were leaked from was Panamanian. The Paradise Papers relate to investments across many different countries, that are sometimes called ‘tax paradises’. These countries also happen to be beautiful islands, like Bermuda! Hence the name Paradise Papers.

Spread the love
No Comments Yet

Leave a Reply

Your email address will not be published.

Write to us at

Help us keep currentkids, current! We’d love to hear about your crazy adventures and experiences. Send us your pictures, travel diaries, thoughts on cool new gadgets, gaming experiences and anything else you find interesting!

About Us

Welcome to our entertaining and empowering news source for kids with inquisitive minds! This is a digital space that keeps kids aged 8 and above (and your families!) connected to what’s happening in the world. We filter a wide variety of news, events, and interesting bits of trivia to develop short, relevant, unbiased content in creative formats. We give everyone something to relate to and get engaged with in short bytes of information with a snappy, chatty feel. We believe in encouraging curiosity, creativity and continued learning in our safe digital space.

Why is reading non-fiction important?

This helps curious minds to learn more about the outside world. It also enriches their vocabulary and their general knowledge. Simplified news helps children to express their opinions easily with their friends and family and gives them some perspective on complex issues. Our safe news website will give you parents a useful tool with which to navigate the digital world with your children.

We hope you enjoy our posts!

Biyash & Sunaina

Subscribe to our weekly newsletter and stay current!


You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.