Sinn Féin - On Your Side

Carthy appointment to European Parliament inquiry into Panama Papers

17 June, 2016 - by Matt Carthy MEP

Sinn Féin MEP Matt Carthy has confirmed that he is to be appointed as a full member of the European Parliament’s Committee of Inquiry into the Panama Papers.  The committee will comprise of 65 members of the European Parliament and will have 12 months to report. Carthy is one of four MEPs from the European United Left group to be appointed onto the inquiry committee.

The Sinn Féin MEP said:

“I welcome the decision by the European Parliament to establish a Committee of Inquiry into the revelations made in the Panama Papers leak by a whistleblower.

“The Panama Papers revelations released by the International Consortium of Investigative Journalists caused shockwaves around the world, including resignations from office by political figures implicated in the scandal.

“I take my appointment to this inquiry very seriously and hope we can shine a light into the secret world of tax-dodging and white-collar crime through the use of offshore tax havens. Most importantly, we need to identify the legal loopholes that allow this to happen in order to propose international reforms to end this activity.

“It’s important to note that the Panama Papers not only revealed massive and elaborate tax avoidance schemes operating internationally by corporations and individuals – it also exposed fraud, money laundering and other forms of serious criminality.

“This Committee of Inquiry will investigate possible contraventions and maladministration in the application of the law on money laundering, tax avoidance and tax evasion.”

Carthy continued:

“The secrecy surrounding the wealth of corporations and individuals revealed in the Panama Papers shows the need for an international system where each country’s corporate register should be publicly available which includes detailed information on ultimate beneficial ownership.

“It is vital that this Committee has sufficient powers of inquiry to investigate the Panama Papers scandal effectively in order to identify the loopholes that need to be closed.” ENDS

Connect with Sinn Féin