The information comes from the ICIJ’s Paradise Papers investigations
A trove of information about Maltese companies will be added to an offshore leaks database tomorrow as part of the ‘Paradise Papers’ investigation by the International Consortium of Investigative Journalists.
The data, valid until the end of 2016, has been sourced from the Registry of Companies of the Malta Financial Services Authority, which although public can be quite bureaucratic and costly to obtain.
Besides Malta, the ICIJ will tomorrow also release information from the corporate registries of the Cook Islands and Samoa – two renowned tax havens. In total, information on 290,000 companies related to the Paradise Papers will be made available tomorrow, more than from any of the ICIJ’s previous leaks.
Last November, the ICIJ released confidential data from offshore law firm Appleby which detailed how wealthy people from around the world use complex structures, including in Malta, to protect their money from higher taxes. The so-called Paradise Papers are now the subject of an inquiry by a new European Parliament tax avoidance committee.
The Maltese government has repeatedly denied the island is a tax haven, arguing that while it offers extremely competitive tax rates to foreign companies, its financial jurisdiction isn’t a secretive one as renowned tax havens.