The European Parliament’s ‘TAX3’ special committee on financial crimes, tax evasion and tax avoidance has published its final report. Among the recommendations is a call for a new European financial police force operating under Europol, with its own investigative powers to carry out international investigations into tax and financial crimes.
The special committee highlights the current lack of co-operation and co-ordination among authorities within and between EU Member States, resulting in money laundering cases, which tend to have an international dimension, not being prevented, tackled at an earlier stage, or investigated properly.
The report also criticises so-called ‘golden visa’ schemes operated by 18 EU countries, which are seen as offering rich foreign criminals a way to set up in Europe. These schemes regularly involve tax privileges for the beneficiaries, as well as allowing them to move freely within the Schengen zone, which can be exploited to launder money and evade taxes.
Danish MEP Jeppe Kofod, co-author of the report, said: ‘The sad conclusion is that Europe has a systemic problem with money laundering, tax evasion and tax avoidance. We have successfully created the world’s richest and most attractive internal market, with free movement of capital and services. But we still lack effective cooperation on cross-border supervision, investigation and enforcement’.
The European Parliament adopted the report during its plenary session on 26 March, which will now go to the Commission for consideration. See bit.ly/2JHdIYL.
The European Parliament’s ‘TAX3’ special committee on financial crimes, tax evasion and tax avoidance has published its final report. Among the recommendations is a call for a new European financial police force operating under Europol, with its own investigative powers to carry out international investigations into tax and financial crimes.
The special committee highlights the current lack of co-operation and co-ordination among authorities within and between EU Member States, resulting in money laundering cases, which tend to have an international dimension, not being prevented, tackled at an earlier stage, or investigated properly.
The report also criticises so-called ‘golden visa’ schemes operated by 18 EU countries, which are seen as offering rich foreign criminals a way to set up in Europe. These schemes regularly involve tax privileges for the beneficiaries, as well as allowing them to move freely within the Schengen zone, which can be exploited to launder money and evade taxes.
Danish MEP Jeppe Kofod, co-author of the report, said: ‘The sad conclusion is that Europe has a systemic problem with money laundering, tax evasion and tax avoidance. We have successfully created the world’s richest and most attractive internal market, with free movement of capital and services. But we still lack effective cooperation on cross-border supervision, investigation and enforcement’.
The European Parliament adopted the report during its plenary session on 26 March, which will now go to the Commission for consideration. See bit.ly/2JHdIYL.
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