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OECD: Island is well-regulated

Crown dependencies defended

Crown dependencies including the Isle of Man are being robustly defended after the release of the Paradise Papers.

The leak sheds light on offshore investments amid claims of corruption and wrongdoing, hidden by secretive companies and trusts.

Jurisdictions with low or zero tax rates have come under scrutiny as part of the investigation by the International Consortium of Investigative Journalists.

Secretary general of the Organisation for Economic Co-operation and Development, Ángel Gurría told Radio 4’s Today programme the Island is well-regulated.

Meanwhile, the law firm at the centre of the exposé has branded the first part of Panorama as ‘a patchwork quilt of unrelated allegations’ with a clear political agenda and movement against offshore.

On its website, Appleby has accused journalists of favouring political objectives over fairness and accuracy.

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