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EU parliament begins Panama papers enquiry

printer Mail

The European parliament’s inquiry committee investigating the ‘Panama papers’ started work on 27 September. The first hearing involved members of the International Consortium of Investigative Journalists, which received the 11.5 million leaked documents from Panama law firm Mossack Fonseca in April 2016.

The committee was set up to assess how the European Commission and member states are fighting money laundering and tax evasion. It has a one year mandate which expires on 8 June 2017. The mandate can be prolonged twice by three months.

A number of MEPs called for the inquiry to focus on the role of the UK’s overseas territories, given the prominent role played by the British Virgin Islands in many of the documented arrangements.