The majority of the papers comes from a secretive law firm, Appleby, which specialises in offshore accounts.
Famous people from Bono to Tory donor Lord Ashcroft are accused of using low- or no-tax territories to conduct business, and companies such as Apple are accused of keeping cash in accounts in tax havens.
Here is a summary of the biggest names that have emerged in the leak so far.
1. The Prince of Wales
The Duchy of Cornwall paid £58,000 in 2007 for 50 shares in Bermuda-registered Sustainable Forestry Management (SFM).
Following the purchase, Charles lobbied for a change to two climate change deals that would have directly benefited the business, the BBC and the Guardian reported.
A spokesman for Clarence House denied that Charles had spoken out to benefit financially.
Tech giant Apple is alleged to have moved the firm holding most of its untaxed overseas cash to the tax haven Jersey, after changes were made to controversial Irish tax practices, the BBC reported.
Apple said its new structure did not reduce tax payments in any country and ‘ensured that our tax obligation to the United States was not reduced’.
3. Lewis Hamilton
Lewis Hamilton reportedly avoided paying VAT on his £16.5 million private jet after it was imported into the Isle of Man in 2013, according to the BBC.
A spokesman for the Mercedes driver said everything was ‘above board’.
4. Mrs Brown’s Boy’s stars
Three stars of BBC sitcom Mrs Brown’s Boys allegedly put more than £2 million into companies in Mauritius as part of a tax avoidance scheme.
Patrick Houlihan, Martin Delany and Fiona O’Carroll took funds received from the production company owned by the creator and star of the show, Brendan O’Carroll, and transferred them overseas, the BBC reported.
Mr O’Carroll told the broadcaster neither he nor his companies had been involved in a tax avoidance scheme or structure.
5. The Queen
Perhaps the biggest name to emerge from the Paradise Papers list is the head of the British monarchy.
According to reports, around £10 million from the Queen’s private fund was paid into funds in the Cayman Islands and Bermuda between 2004 and 2005.
A spokesman for the estate said: ‘All of our investments are fully audited and legitimate.’
U2 frontman Bono used a company based in Malta, a low tax jurisdiction, to pay for a share in a shopping centre based in Lithuania.
The leaked papers reportedly reveal that Bono, under his real name Paul Hewson, was an investor in the Maltese company Nude Estates, which bought the shopping centre.
The tax arrangements of Bono and his band U2 have come under fire in the past.
In 2011, a protest was held against the band’s tax status during their set at Glastonbury, with activists inflating a 20ft balloon emblazoned with the message ‘U Pay Your Tax 2’.
7. Lord Ashcroft
Tory donor and enthusiastic Brexiter Lord Ashcroft is the most prominent British political figure to be named in the Paradise Papers, according to reports.
The former Tory party deputy chairman has given millions of pounds to the Conservatives, still wields influence through political websites and a large polling organisation.
For a man who usually likes to give his opinions, Lord Ashcroft remained tight-lipped when a BBC Panorama crew pursued him through the exhibition area of last month’s Tory conference as they attempted to question him over the Paradise Papers.
The peer, who is said to have disliked the way he was portrayed on the BBC flagship programme in the past, eventually sought sanctuary in the men’s toilet.
8. & 9. Amazon and Nike
The tax affairs of firms such as Amazon are already controversial, but the Paradise Papers offer an insight into how the companies invest offshore.
Big name global firms such as Apple and Nike are among more than 100 multinational companies whose tax affairs are thrown into the spotlight.
A Nike spokesman said: ‘Nike complies with tax regulations and we rigorously ensure our tax filings are aligned with how we run our business, the investments we make and the jobs we create.’
The tax haven ventures of multinational companies in Africa and Asia which use shell companies in Mauritius and Singapore to cut taxes also feature, according to the ICIJ.
10. Donald Trump’s circle
U.S. Commerce Secretary Wilbur Ross kept investments in a shipping firm with significant business ties to Russian President Vladimir Putin’s inner circle, U.S. media reported on Sunday.
Partnerships used by Ross, a billionaire investor helping to shape President Donald Trump’s trade policy, have a 31% in Navigator Holdings, which the New York Times said earns millions of dollars a year transporting gas for Russian petrochemical firm Sibur.
This story was originally published in metro ” Entry posted by Rob Waugh”