“Paradise Papers”: ALDE MEP condemns failure to tackle tax avoidance
One year and a half after the Panama Papers scandal, the International Consortium of Investigative Journalists published yesterday the so-called Paradise Papers, a global investigation that reveals the outrageous offshore activities of some of the world's most powerful people.
Petr Ježek, Co-Rapporteur of the Panama Papers inquiry committee, commented today:
“The Paradise Papers revelations remind us of the recent Panama Papers scandal and show us once more how much there is still to do in the fight against fraud and tax evasion.”
“After more than a year of thorough investigations in our Panama Papers inquiry committee, our conclusions were clear: The Commission and Member States need to step up their efforts to improve supervision and enforcement, not only to prevent and fight illegal practices such as money laundering, tax evasion and tax fraud, but also to prevent those which may be legal yet contrary to the spirit of the law.”
“The borderline between tax optimisation and tax evasion is a narrow one. That is why we need, for example, a common definition of tax havens and a clear definition of what is tax optimisation and what is actually tax evasion or avoidance, in order to tackle those issue."
“With a view to the ongoing review of the Anti-Money Laundering Directive, we call on the Council to make progress on the issue of the transparency of beneficial ownership. The European Parliament advocates a fully public register of beneficial owners also for trusts. The Paradise Papers provide yet another reason to step up these efforts, in order to achieve greater transparency."