After the Paradise Papers leaks, members of the Parliament will most likely call for the creation of a special investigative committee, and ultimately of a permanent standing committee, to shed light on wrongdoings in the field of taxation. The final recommendations of the Committee of Inquiry into Money Laundering, Tax Avoidance and Tax Evasion (PANA), are to be voted on at the December plenary session. They aim to accelerate the implementation of anti-money laundering laws.
From the Panama Papers to the latest Paradise Papers leaks: tax evasion is not only an issue outside Europe. After the Panama revelations, the Parliament decided to set up an inquiry committee to assess how the EU and member states have been fighting money laundering and tax evasion. Some EU members state are very reluctant and very slow to change the laws so we can avoid tax evasion and money laundering, and this is a big problem for the EU, and it's a big problem for the majority of the countries that want to have another agenda. The crucial point is the good will of the member states. And I think, if there are no leaders in some countries which would bite the bullet, I think it requires the pressure coming from the public opinion. Members of Parliament are calling for better monitoring and effective implementation of existing rules in the fight against tax avoidance. When we have a look at all the leaks, if any new leaks come, they provide new names of companies or individuals, but the technique is more or less the same. Among the recommendations: more traceability and an increased exchange of information on taxpayers and owners. MEPs also want proportionate sanctions in case of any breach of law. What we do now is to ask the leadership of the Parliament for a special committee to shed light on Paradise Papers, call witnesses, call people who are mentioned in the Paradise Papers to testify before the European Parliament, look at these structures, see how we can prevent these structures to be established in the future.