In fact - in the words of US President Barack Obama - the problem is that many of the structures revealed in the Panama Papers are actually legal structures because the laws are so poorly designed, giving opportunity to rampant tax evasion around the globe.

At the start of this week the International Consortium of Investigative Journalists (ICIJ) published a database consisting of nearly 214,000 offshore entities (including names of the owners) created in 21 jurisdictions. This database comes in addition to the 100,000 offshore entities that had been disclosed in the ICIJ's 2013 offshore leaks investigation.

At least 71 Indonesian shell companies (a corporation without active business operations or significant assets), 3,544 Indonesian individuals who own a shell company, 530 intermediary companies, and 3,223 Indonesian addresses are mentioned in the leaked documents. Some specific names include Garibaldi Thohir, Anthony Salim, Hilmi Panigoro, Chairul Tanjung, James T. Riady and Sandiaga Uno.

20 Largest Indonesian Companies Mentioned in ICIJ Documents:

Company Established    
Jurisdiction Source
Misool Holdings Ltd 14/06/2010 Seychelles Panama Papers
Stallion Company Ltd 13/05/1992 British Virgin Islands Panama Papers
The R.I.O Property Group Ltd 03/07/1997 British Virgin Islands Panama Papers
Sherwood Holdings Group Ltd 18/03/1997 British Virgin Islands Panama Papers
Asian Resources Ltd 08/05/1991 British Virgin Islands Panama Papers
Asia Top Enterprises Ltd 27/06/2001 British Virgin Islands Panama Papers
Jane Lloyd Ltd 25/02/2003 British Virgin Islands Panama Papers
Peter J. Jackson Ltd 21/03/2005 British Virgin Islands Panama Papers
Times Investment Group Ltd 21/05/2003 British Virgin Islands Offshore Leaks
Energi Mega Pratama 15/10/2003 British Virgin Islands Offshore Leaks
Northern Star Capital Pte Ltd 05/03/2008 British Virgin Islands Offshore Leaks
Indoprop Ltd 01/04/1998 Cook Islands Offshore Leaks
Asia Pacific Leisure Ltd 19/06/1991 unknown Offshore Leaks
Asanusa Capital Partners Pte Ltd 28/01/2003 unknown Offshore Leaks
Uni Enlarge Industry Indonesia 27/07/2001 Singapore Offshore Leaks
Topas Multi Securities unknown unknown Offshore Leaks
Jenshiang Nusantara Textile
Chemical Industry
unknown unknown Offshore Leaks
Mega International Corporation
Enterprises Ltd
11/03/2005 British Virgin Islands Offshore Leaks
Indo Buana Makmur Textile 26/07/2001 Singapore Offshore Leaks
Wanamurti & Associates unknown unknown Offshore Leaks

Source: Bisnis Indonesia

Discuss