Zero tolerance for tax avoidance and tax havens

Taxes must be paid where profits are made to fight tax evasion by multinationals, #TaxJustice, TaxJustice, Hugues Bayet, LuxLeaks and Panama Papers scandals, fight tax evasion, Organisation for Economic Co-operation and Development (OECD),

Today, thanks to pressure from the Socialists and democrats Group, the political leaders in the European Parliament agreed on a mandate to set up an inquiry committee on the Panama papers scandal.

 The S&D Group President Gianni Pittella reacted with the following statement: 

“The S&D Group has been the leading force in the European Parliament to request an inquiry committee on the revelations of the so-called Panama Papers.

“Every year billions of euros disappeared hidden in tax havens depriving people and governments of precious resources which could be invested in education, health care, public services and the fight against poverty.

“Almost every day a new skeleton is falling out of the Panama papers closet. The revelations of the Luxleaks, Swissleaks and Panama Papers scandals have shed light on unacceptable practices, which challenged the EU tax system.  The new inquiry committee will build on the work of the special tax committees set up18 months ago but with a larger mandate. It will address issues such as money laundering and the impact on third countries.

“We want full transparency and sanctions for those who help individuals and companies evade tax. Fighting tax fraud, tax avoidance, and eradicating tax havens must become a top priority of the EU. Otherwise, the overwhelming majority of people who pay their taxes won't understand and will turn their back on the European project”.