EU report slams efforts to tackle Money Laundering & Tax Avoidance/evasion - Carthy
More political will, better regulation and stronger enforcement and monitoring of existing rules is needed to counter the practices of money laundering and tax avoidance and evasion. There’re just some of the recommendations made in a damning EU report that was debated in the European Parliament today. The report comes 18 months after a European Parliament Committee of Inquiry 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. The Sinn Fein MEP Matt Carthy claims the Irish government is assisting multi-nationals in tax avoidance and that such a practice carries a high cost.
Out words: across the world
Dur: '37
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