Amitabh Bachchan Survives Even Being Linked To Tax Havens By Panama and Paradise Papers


Amitabh Bachchan

Last year it was the Panama Papers and lately the Paradise Papers leaks have linked Amitabh Bachchan with offshore tax havens alleging evading of taxes.

The Bollywood superstar was earlier named in Bofors gun pay-off scandal too for which he and his family had gone through tough time for several years. In one of his recent blog posts the actor wrote, “For years we were grilled, declared traitors, abused and humiliated by the hour for several years.”

However, when the abuse and humiliation became unbearable, Big B moved to a UK court and won the case. After about 25 years he learned his name was planted in the case.

Paradise Papers are the documents from law firm of Bermuda, Appleby, which are shared with the International Consortium of Investigative Journalists (ICIJ) and many news organizations. Lately those were leaked to German newspaper Sueddeutsche Zeitung naming Amitabh Bachchan as one of those individuals who have taken advantage of tax havens, similar to what Panama Papers had earlier mentioned.

Most of the wealth of Bachchan came from his movies, as mentioned in Forbes magazine earlier, but the Panama Papers linked his other business interests too. He was linked to shipping companies in the Bahamas and British Virgins Islands.

The actor denied any wrongdoings saying he has paid all the relevant taxes.

In his Sunday morning blog post, a lengthy one of course, the 75-year-old mentioned he is not seeking any epithets or headlines at such age and time of his life, but he is looking for peace and freedom from prominence.

Meanwhile, it is important to know that contributing to offshore fund is not a crime, but before 2003 the Reserve Bank of India didn’t allow Indians to start overseas entity. In 2004 the rules were changed and permissions were granted but with an annual remit funds cap of up to $25,000 only under the Liberalized Remittance Scheme (LRS).