Paradise Papers: No more excuses

Date

05 Nov 2017

Sections

Euro & Finance

Press release

Berlin, 05.11.2017

The Member of German Parliament and former Vice-Chair of the European Parliament’s Panama Papers Inquiry Committee, Fabio De Masi (DIE LINKE., formerly GUE/NGL) comments on the Paradise Papers published by the International Consortium of Investigative Journalists:

„International corporations, the super-rich, the powerful and criminals push taxes down to near zero. The mostly legal business models shed light on the failure of international tax policy and need swift response. Financial flows to tax havens have to be penalized via source taxation at EU member state level. We need a public registry of the true beneficial owners of letterbox companies and trusts as well as the revocation of business licenses for banks, lawyers and accountancy firms helping serious tax crimes. Europe needs selective capital controls and a coordinated wealth levy for the super-rich to fund public investment.

De Masi concludes:  „The European Parliament should push for greater investigative competences such as a right to summon witnesses under oath as in the US-Senate and establish a permanent subcommittee on corporate taxation.“

 

Contact:

Fabio De Masi, MdB

Deutscher Bundestag

Platz der Republik 1

11011 Berlin

Telefon: +49 30 227-77012

Fax: +49 30 227-70012

fabio.demasi@bundestag.de

www.fabio-de-masi.de