Sven Giegold

Panama Papers: European sanctions against the aides of tax evaders

The Süddeutsche Zeitung, Le Monde and the International Consortium of Investigative Journalists (ICIJ) report in a masterpiece of transnational journalism about an enormous amount of leaked data on offshore companies in Panama. Panamanian law firm Mossack Fonseca has facilitated dubious deals for many prominent figures as well as companies. MEP Sven Giegold, financial and economic policy spokesperson of the Greens/EFA group comments on the “Panama Papers”:


“The Panama Papers reveal the scandalous system of tax evasion through offshore companies in tax havens. It’s a shame that we still rely on leaks like this one to tackle disgraceful tax evasion. This case shows how crucial transparency on offshore companies and their owners is in the fight against tax evasion and money laundering. We need a public register of the beneficial owners of offshore companies. The EU should apply strong sanctions on banks, which are doing business with intransparent companies. That’s how the US are doing it for years. All EU member states must ensure fully public transparency for the planned business register. The EU commission has now to stop hesitating and suggest fully public country by country reporting for large corporations in order to lift the veil of secrecy over their presence in tax havens.”

Category: Uncategorized

Please share!