World Economy

EU List of Tax Havens Needed

EU List of Tax Havens NeededEU List of Tax Havens Needed

Pierre Moscovici, the European Commissioner in charge of tax policy, has announced his intention to move swiftly in order to finally draw up a European list of tax havens. This is in the wake of the scandal that erupted from the Panama Papers–a huge batch of leaked reports linking 140 public figures, executives and celebrities from around the world to overseas assets in offshore tax havens.

“Now we need a real European list based on new cooperative criteria. I urge countries to agree on a common methodology for that list,” Moscovici said. “I want the list of tax evaders in the next six months,” NewEurope reported.

According to Moscovici, Panama is currently listed as a “non-cooperative tax jurisdiction” by eight EU member states. “Panama has not been willing to enter into constructive dialogue with EU. I strongly urge this country to rethink and enter dialogue,” he said.

The commissioner also indicated he was “outraged and angry” after the leaks revealed hundreds of suspected cases of tax evasion through the creation of companies in tax havens. He said that even though the extent of illegality is not yet known, it is “clearly immoral”.

Speaking to reporters in European Commission’s briefing, Moscovici declined to comment on specific cases that appear in the leaked papers. One such case involves the wife of European Commissioner for Climate Action and Energy Miguel Arias Canete. What Moscovici did say, however, is that the European Commission will not hesitate to act if EU law has been broken.

Asked specifically about the case involving Canete, Moscovici said the European Commission “is entirely united” in addressing the case and that “the College of Commissioners works in the best spirit” which of course is friendly.

About calls from various political groups demanding that Arias Canete should answer questions before the European Parliament, Moscovici said only that “the European Parliament has all the facilities and skills to work”.