MOSCOW — Leaked papers revealing investments in tax havens by the world’s wealthy suggest that several Russian oligarchs have registered private jets in the Isle of Man, avoiding taxes in Russia. Russia’s Novaya Gazeta, which shared access to the “Paradise Papers” with other organizations, reported late Monday that 17 jets have been registered in the Isle of Man, a crown dependency of the U.K. The jets were registered on the behalf of individuals including Russian President Vladimir Putin’s childhood friends, the Rotenberg brothers, and metals tycoon Oleg Deripaska. Novaya Gazeta calculated that the businessmen would have had to pay roughly $68 million in taxes if they had imported the jets to Russia. Arkady and Boris Rotenberg, childhood friends of Putin, have registered three jets in the Isle of Man.

Source: National Post November 07, 2017 17:43 UTC