EU report calls for wide ranging measures to tackle money laundering & tax avoidance – Carthy

A European Parliament report is calling for wide-ranging measures to tackle money laundering and tax avoidance and evasion. The report, which was debated by MEPs in Strasbourg today, was produced by a European Parliament Committee of Inquiry. It was set up following revelations of tax avoidance and money laundering from the so-called Panama papers. The report found that some multinationals and wealthy individuals are able to exploit legal vacuums and escape paying their taxes. It says better regulation and stronger enforcement and monitoring of existing rules is needed to counter the practices of money laundering and tax avoidance and evasion. The Sinn Fein MEP Matt Carthy, was on the Parliament’s inquiry committee.

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