Singer Shakira has been dragged into the Paradise Papers row after it was revealed that she transferred 30 million pounds in musical rights to an offshore firm in Malta.
Shakira is the latest celebrity revealed to have used tax havens abroad after 1.34 million papers were leaked to the German press, reports dailymail.co.uk.
Shakira's company Malta Tournesol Limited is based on the Mediterranean island of Malta, known for its tax incentives.
On papers, Shakira is listed as a Bahamas resident, despite her living in Barcelona with her footballer boyfriend Gerard Pique.
Her lawyer stressed that the activity was legal and in accordance with laws.
Shakira's lawyer Ezequiel Camerini told Spanish website El Confidential: "The Maltese company Tournesol Limited fulfills all legal requirements to operate as such. All of the corresponding information relative to this entity is public and transparent."
There are 714 Indian entities and individuals having financial holdings abroad, according to the Indian Express news daily.
--IANS
sas/sug/dg
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app