Luxembourg has shared information with other countries
on cases of possible tax
evasion in relation to the ‘Panama Papers’, according to Finance
Minister Pierre Gramegna.
Gramegna, responding to a request from the EU Investigation Committee on
Money Laundering, Tax Avoidance and Tax Evasion (PANA), said the exchanges took place partly spontaneously and partly at the
request of other countries.
The European Parliament’s
so-called Panama Committee, the official Committee of Inquiry to investigate
alleged contraventions and maladministration in the application of EU law in relation to money laundering, tax avoidance and tax
evasion, was established following the Panama Papers leaks on June
During its 12-month
mandate, the PANA will have the opportunity to investigate the
alleged failures that allowed instances of money laundering, tax
evasion and tax avoidance.
At the end of this period, a report will
be submitted with recommendations.
The European Parliament has been critical of the Luxembourg finance ministry’s
response to its inquiry, arguing that the ministry has failed to provide sufficient
information regarding the fight against money laundering.