— AFP/File

The European Union should do extra to fight tax evasion and aggressive tax planning, EU Fee President Ursula von der Leyen mentioned Monday within the wake of revelations within the “Pandora Papers”.

Talking throughout a go to to Helsinki, von der Leyen condemned the practices dropped at mild within the enormous knowledge leak, which detailed how 35 present and former world leaders have used offshore tax havens to stash property value a whole bunch of thousands and thousands of {dollars}.

“Tax evasion and aggressive tax planning is totally unacceptable,” von der Leyen mentioned.

“We’ve within the European Union a few of the highest tax transparency requirements on the planet, however as we see it is not sufficient, extra work is required.”

The paperwork, often called the “Pandora Papers”, had been obtained by the Worldwide Consortium of Investigative Journalists (ICIJ) and launched in tales by media companions together with The Washington Publish, the BBC and The Guardian.

Allegations vary from corruption to cash laundering and tax avoidance.

Though holding property offshore or utilizing shell firms shouldn’t be unlawful in most international locations, the revelations are embarrassing for leaders who’ve pushed austerity measures or campaigned in opposition to corruption.

Amongst these that includes within the leaked papers is former EU commissioner and Maltese minister John Dalli, accused of failing to declare a secret offshore firm whereas an MP.

Dalli, who resigned as EU well being commissioner in 2012 over a bribery scandal, mentioned the corporate within the British Virgin Islands was “inactive”, in keeping with Maltese media.

On Monday von der Leyen referenced an EU proposal on the misuse of shell firms which she mentioned is due by the top of the 12 months.

“We’ll include a solution to the plain issues which might be nonetheless on the market,” von der Leyen mentioned.

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