Panama Papers

MIL OSI – Source: European Union – Press Release/Statement

Headline: Panama Papers




The European Parliament set up an inquiry committee into the “Panama Papers” revelations.

The Panama Papers are a leaked set of 11.5 million confidential documents that provide detailed information about more than 214,000 offshore companies listed by the Panamanian corporate service provider Mossack Fonseca, including the identities of shareholders and directors of the companies. The documents show how wealthy individuals, including public officials, hide their money from public scrutiny.The Panama Papers were revealed by the International Consortium for Investigative Journalism; the same organisation that was behind what has become known as the ‘Luxleaks’ corporate tax scandal. ‘LuxLeaks’ triggered the set-up of Parliament’s Special Committee on Tax Rulings, which resulted in a long list of legal recommendations for fairer and more transparent tax policies in the EU.



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Parliament’s Inquiry Committee on money laundering, tax avoidance and tax evasion (PANA) holds its constitutive meeting to elect its chair and vice-chairs





Parliament votes to appoint 65 MEPs from all political groups to the “Panama Papers” inquiry committee, set up on 8 June to investigate alleged contraventions and maladministration in the application by the EU Commission or member states of EU laws on money laundering, tax avoidance and tax evasion.





Following the recent “Panama Papers” revelations about some 200,000 offshore letterbox companies, the, MEPs vote on the creation of an inquiry committee to investigate alleged contraventions and maladministration in the application of EU laws on money laundering, tax avoidance and tax evasion.





The “Panama Papers” revelations, of more than 200,000 offshore companies and their secret owners, including many politicians and celebrities, are debated with the Commission and Council on Tuesday afternoon. The key question: Are existing EU measures against tax evasion and money laundering working?