Specialised Panama Papers committee to start immediately

A specialised committee will be established to investigate tax fraud and abuse of tax havens, about which Parliament’s different political parties have reached an agreement. “The investigation into fraud and large-scale tax evasion must be given priority,” Minister of Finance Johan Van Overtveldt agrees. “Parliament can count on me to partner in pursuing that investigation.”

The special committee will not only investigate abuse of tax havens, but will also investigate the role of certain advisers and intermediaries in this story, and more specifically for that of financial institutions. It will also investigate what was done with the information about the so-called Panama route taken by Luxembourg’s Dexia-subsidiary. This was already known in 2009, but did not lead to sanctions.

Anti-fraud plan

Parallel to the investigation, the standing committee for Finance will continue to engage in legislative work in order to close the loopholes. And at the request of Minister Van Overtveldt, the Special Taxation Inspectorate (BBI) will now prioritise focus on the structures revealed in the Panama Papers. Related information was requested from the reporters involved, but has not yet been provided. In addition, the Minister of Finance’s anti-fraud plan will be implemented further, which includes among others eight extra measures in the fight against tax fraud. For example, investigation periods for fraud cases will be extended and inspection services will have more instruments to carry out their work thoroughly.