6
Oct
2021
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Pandora Papers: implications on the efforts to combat money laundering, tax evasion and avoidance (debate)
Madam President, I believe that we are faced with a very great shame once again. An embarrassment that seriously damages the credibility of our institutions by giving the image that there is a tax system for ordinary people and an elite that benefits from a parallel tax system. And in the face of this embarrassment, frankly, I find it regrettable that the Council did not have even the thorny embarrassment of postponing the discussion on the blacklist of tax havens this week. Frankly, this very week, with this leak, to have taken some jurisdictions off the list, not to have introduced, for example, the British Virgin Islands, which are home to two-thirds of the companies. offshore I find it regrettable that they have made themselves known. That list needs to be reformed. It cannot be guided by political criteria and much stricter criteria must be introduced when establishing what kind of countries must be on that list. Secondly, Commissioner, you said that we have advanced anti-money laundering legislation and that we have made progress. And I agree. What happens is that we have a serious implementation problem, in the sense that, for example, we also have politically exposed people on the list who have been able to circumvent the rules, or that some of our European jurisdictions are flagged by the FATF as high-risk jurisdictions. That means that we have a serious problem with the application of our anti-money laundering rules and that means that the Commission has to be much stricter in its application. And thirdly, someone has said that thanks to the OECD countries have more information. True, but the Common Reporting Standard must be reformed. We need more information. For example, real estate and its profits are not covered by the ECCI, or, for example, the United States does not use the ECCI, and that is a serious problem that we also need to change within the framework of the OECD.