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The leak that is largest of papers ever sold has exposed the income tax secrets of a number of multinational businesses.

ABC News: Alex Palmer

The Australian Tax Office (ATO) has had action against 19 multinational companies since it unpicks a scheme effective at pushing an incredible number of taxation bucks overseas.

Key points

  • The ATO has brought action against 19 organizations more than a cross-currency rate of interest swap scheme
  • The ATO is looking for the Paradise Papers to be able to analyse the implications that are australian
  • The Paradise Papers unveil mining giant Glencore utilized the money swap scheme

The ATO can also be breaking down on high-profile Australian advisory businesses and a worldwide internet of overseas law offices suspected of marketing income tax avoidance schemes through taxation have actuallyns.

The ATO investigations have started to light during a Four Corners project together with the Overseas Consortium of Investigative Journalists.

The biggest drip of papers ever sold has exposed the taxation secrets of a number of big international organizations.

The Paradise Papers leak has uncovered private e-mails, board minutes and tax-structuring plans originating from worldwide law that is offshore Appleby, Singaporean company Asiaciti Trust and 19 business registries in income tax havens, acquired by German newsprint Suddeutsche Zeitung. Continue reading