Around £10 millio­n of the Queen's privat­e money was placed in funds held in the Cayman Island­s and Bermud­aLONDON: Millions of pounds from the private estate of Britain’s Queen Elizabeth II have been invested in offshore tax haven funds, a huge new leak of financial documents revealed on Sunday. Around £10 million ($13 million, EUR11.3 million) of the Queen’s private money was placed in funds held in the Cayman Islands and Bermuda, according to the leaked papers, which were first reported in Britain by the BBC and the Guardian newspaper. There is no suggestion that the Queen’s private estate acted illegally or failed to pay any taxes due. But the leaks may raise questions over whether it is appropriate for the British head of state to invest in offshore tax havens. The investments emerged as part of a new leak — dubbed the Paradise Papers — by the US-based International Consortium of Investigative Journalists (ICIJ), which was behind the 2015 Panama Papers release.

Source: The Express Tribune November 05, 2017 20:37 UTC