Paolo Gentiloni, a former prime minister of Italy, praised the “meticulous” work of journalists around the world that he said had exposed how lawmakers were being outpaced by those seeking to avoid paying tax.
Speaking at the start of a debate in the European parliament, Gentiloni said the revelations, drawn from 11.9m leaked files from firms hired by wealthy clients to create offshore structures and trusts in tax havens, demanded new legislation.
Gentiloni said: “The commission is preparing new legislative initiatives that will enhance tax transparency and bring new elements under the umbrella of automatic sharing of information to reinforce the fight against tax evasion and avoidance.
“This includes legislative proposals that we will table before the end of the year to tackle the misuse of shell companies for tax purposes. We all know through the Pandora papers what a key role these shell companies can play in tax evasion.
This story is from the October 07, 2021 edition of The Guardian.
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This story is from the October 07, 2021 edition of The Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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