Paradise Papers reveal secretive world of tax havens

The Queen, the Canadian Prime Minister's fundraiser and one of Donald Trump's cabinet secretaries are among the prominent names linked to the Paradise Papers.

The massive document hack revealing the secretive world of tax havens is comprised of 13.4 million documents, making it the second biggest data leak in history.

Offshore law firm and America's Cup sponsor Appleby is the main company at the centre of the Paradise Papers. 

The document dump details how luxury homes, private jets and trust funds can be placed in offshore companies, so money can be channelled into low-tax countries.

It's been revealed that the Queen's estate has invested $19 million through an offshore haven.

The papers also show that Canadian Prime Minister Justin Trudeau's chief fundraiser, Stephen Bronfman, may have shipped money off shore to avoid tax.

US Commerce Secretary Wilbur Ross has a shipping company that receives money from Vladimir Putin's son-in-law.

No New Zealand connection has been uncovered yet, but Inland Revenue says it would be prudent for anyone involved to come forward.

The Paradise Papers also show companies Apple and Nike have used offshore tax havens.

Oxfam wants the New Zealand Government to clamp down on offshore portfolios through its proposed tax working group.

"Things like public country by country reporting so we can actually see what income is raised in each country and what tax is being paid in those countries."

The Paradise Papers may provide an insight into the lives of the extremely wealthy, but those involved say there is no evidence of wrongdoing.

In fact Appleby says it's the victim, claiming it was targeted by a professional hacker with a political agenda.