• Tuesday, Dec 07, 2021
  • Last Update : 03:39 pm

Pandora Papers revelations: EU must do more, says Von der Leyen

  • Published at 03:01 pm October 5th, 2021
Ursula Von Der Leyen
File photo: European Commission President Ursula Von Der Leyen speaks during a debate on next EU council and last Brexit development during a plenary session at the European Parliament in Brussels, Belgium November 25, 2020. REUTERS

 'Tax evasion and aggressive tax planning is completely unacceptable' says von der Leyen

The European Union (EU) must do more to combat tax evasion and aggressive tax planning, EU Commission President Ursula von der Leyen said Monday in the wake of revelations in the "Pandora Papers."

Speaking during a visit to Helsinki, von der Leyen condemned the practices brought to light in the huge data leak, which detailed how 35 current and former world leaders have used offshore tax havens to stash assets worth hundreds of millions of dollars." Tax evasion and aggressive tax planning is completely unacceptable," von der Leyen said. 

"We have in the European Union some of the highest tax transparency standards in the world, but as we see it's not enough, more work is needed." 


Also Read - Mexican president demands probe into offshore claims


The documents, known as the "Pandora Papers", were obtained by the International Consortium of Investigative Journalists (ICIJ) and released in stories by media partners including The Washington Post, the BBC and The Guardian.

Allegations range from corruption to money laundering and tax avoidance.

Although holding assets offshore or using shell companies is not illegal in most countries, the revelations are embarrassing for leaders who have pushed austerity measures or campaigned against corruption.

Among those featuring in the leaked papers is former EU commissioner and Maltese minister John Dalli, accused of failing to declare a secret offshore company while an MP.  


Also Read - Kremlin rebuffs 'unsubstantiated claims' in Pandora Papers


Dalli, who resigned as EU health commissioner in 2012 over a bribery scandal, said the company in the British Virgin Islands was "inactive", according to Maltese media.

On Monday von der Leyen referenced an EU proposal on the misuse of shell companies which she said is due by the end of the year.

"We'll come with an answer to the obvious problems that are still out there," von der Leyen said.

51
Facebook 51
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail