Panama Papers: Amitabh Bachchan breaks silence over tax evasion scandal

I have paid all my taxes including on monies spent by me overseas, the Bollywood actor said.

06 Apr, 2016

The Panama Papers, which are being described as the biggest leak in history, feature over 500 Indians linked to offshore firms, reported The Indian Express, whose team was part of the eight-month long investigation spearheaded by the International Consortium of Investigative Journalists (ICIJ).

Many have claimed that their investments were legal, while others have maintained silence. Not Big B though. Amitabh Bachchan whose name was also in the list claims that there's a possibility that his name was misused.

According to the leaked documents, the Bollywood legend was appointed director of at least four shipping companies registered in offshore tax havens set up 23 years ago.

Here is what Mr.Bachchan had to say about the controversy:

"I do not know any of the companies referred to by The Indian Express - Sea Bulk Shipping Company Ltd, Lady Shipping Ltd, Treasure Shipping Ltd, and Tramp Shipping Ltd. I have never been a director of any of the above stated companies. It is possible that my name has been misused."

"I have paid all my taxes including on monies spent by me overseas. Monies that I have remitted overseas have been in compliance with law, including remittances through LRS, after paying Indian taxes. In any event the news report in Indian Express does not even suggest any illegality on my part."

The Indian Express also reported that Aishwarya Rai and her family were appointed as directors of a company incorporated in the British Virgin Islands in 2005, which was dissolved in 2008.

A media adviser to Ms Rai has told the newspaper that "all information that you have is totally untrue and false."

Comments

Zafars Apr 06, 2016 05:28pm

Granted all may be legal. The question is if it is legal why go thru dummy offshore companies?

Recommend

salman Apr 06, 2016 05:39pm

May be because Mr. Bachan sang the national anthem wrong?

Ali Apr 06, 2016 08:14pm

everyone's money needs to be taken back and given to charities

zak Apr 06, 2016 08:27pm

So much siphoned off money so many places that he cant even remember the names of where they are and under what name. And of course, they have all paid taxes.

Amar Apr 06, 2016 09:11pm

So Nawaz Sharif can also say that his name is being misused.

SK Bhai Apr 06, 2016 09:17pm

This is not new for Mr. Bachchan.

Ali Apr 06, 2016 09:38pm

He is treated like a God in India and he is cleverly taking advantage of it :P

Johore Apr 06, 2016 11:29pm

Bold stand taken by Big-B. All others blamed must come forward with refutations.The people of India and Pakistan are very sad to read the Panama leaks papers, about their politicians and leaders ,and more appaling is a fact that it's all our national wealth looted clandestinely and invested offshore.

Naxalite Apr 06, 2016 11:52pm

Afterall he is a Top-Class Actor!

East indian Apr 07, 2016 12:01am

IT department and ED department will soon find out whether you with BJP or not. Tax matter does not matter to government of india.

Atif Apr 07, 2016 01:24am

Now this is the topic where Indians should be commenting. But they have disappeared :)

kadva sach Apr 07, 2016 03:27am

Amitabh Bacchan has made a huge space in the hearts of his avid fans all over the world and that will be big reason why everyone will believe what he says. However, what is being ignored is that under his mega star celeb status, he is just another human being who is prone to do dodgy stuff. He should be investigated with a clear conscience and brought to justice like anyone else, if there has been any wrong doing on his part.

Vorshal Apr 07, 2016 05:36am

@Zafars -- The taxpayers are entitled to manage their tax affairs in any (legal) manner so as to minimise their taxes. See Westminster case.

msbaig Apr 07, 2016 07:32am

record breaking silence

Indoaryan Apr 07, 2016 10:32am

I say his name is on the list for a reason , why would any person live in India and keep his wealth abroad in tax safe heavens? India is a poor country because it has too many rich people like Amitabh Bachanan .

asad lateef Apr 07, 2016 11:18am

@Amar where is direct name of NS.His sons who are non-residents,earned the money outside Pakistan,can invest anywhere in the world.

kashif Apr 07, 2016 11:59am

bachan & most others used of shore companies for saving taxes...but Pakistani politicians are using of shore companies for hiding looted money from poor people of Pakistan...