August 15, 2022

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EU calls for new legislation amid Pandora’s papers scandal

During a press conference in the Finnish capital, where he is visiting, von der Leyen said that Brussels will present a proposal before the end of the year on activities in tax havens.

Tax evasion and extensive tax planning is totally unacceptable. In the European Union (EU) we have some of the highest standards of financial transparency in the world, but as we see, this is not enough,” the European Commission president said without entering the names of politicians and businessmen among the 27 countries listed. In 12 million files reviewed by the International Consortium of Investigative Journalists for nearly a year.

Von der Leyen said the commission would draw up a proposal on the misuse of shell companies for tax purposes.

The European Commission earlier declined to comment on the scandal, which was published the previous day simultaneously in several countries.

This investigation into the alleged concealment and money laundering includes 35 world leaders (both working and retired), dozens of billionaires, and hundreds of senior government officials from more than 90 countries.

We are not in a position to comment on the names or individual entities mentioned in this investigation, community spokeswoman Dana Spinant said at the press conference in Brussels.

Among the European leaders named in the investigation, Czech Prime Minister Andrej Babis. and Cypriot President Nicos Anastasiades, who has already denied any responsibility for tax evasion.

There is also Maltese John Daly, the former European Commissioner for Health and Consumer (2010-2012), who resigned over a scandal over alleged bribery linked to the tobacco industry.

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The European Parliament, in its session on Wednesday in Strasbourg, is expected to adjust its agenda to deal with the issue.

It was the same consortium that exposed in previous years other scandals related to tax havens such as the Panama Papers (2016).

Ga / Omani Rial