European Parliament To Launch Paradise Papers Inquiry

by Ulrika Lomas, Tax-News.com, Brussels

13 February 2018

The European Parliament is to establish a new special committee on financial crimes, tax evasion, and tax avoidance.

An agreement on the committee's establishment was reached by the presidents of parliament's political groups on February 8. The decision must now be validated by a plenary vote of parliament.

The committee will have 45 members and will sit for 12 months. The aim of the committee is to build upon and complete the work carried out by the TAXE 1 and TAXE 2 and the PANA inquiry committees, and to look at recent leaks such as the Paradise Papers.

Philippe Lamberts, the co-president of the Greens/EFA political group, said: "The Paradise Papers showed that there is clearly unfinished work to do if we are to secure tax justice in Europe. We want to make sure that national treasuries are able to collect the money that is needed to build shared prosperity across Europe."

"The European Parliament's inquiry committee into the Panama Papers has already produced a strong action plan for clamping down on tax dodging… This new committee can now make sure this progress is not lost and that these much-needed measures are implemented by the Commission and by governments across Europe."

Udo Bullmann, acting leader of the Socialists and Democrats group, commented: "It is crucial to complete the work carried out in the successive committees, TAXE 1, TAXE 2, and the Panama Papers inquiry that were launched four years ago. The work to crack down on tax dodging must continue."

"We also want to focus on effective implementation and monitor the impact of the recommendations the Parliament has put forward."

TAGS: compliance | tax | tax compliance | tax avoidance | European Union (EU) | Panama | Europe | Tax | Tax Evasion | BEPS

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