Arab Today, arab today germanys schaeuble urges global push to fight tax cheats
Last Updated : GMT 07:10:47
Arab Today, arab today
Arab Today, arab today

Germany's Schaeuble urges global push to fight tax cheats

Arab Today, arab today

Arab Today, arab today Germany's Schaeuble urges global push to fight tax cheats

German Finance Minister Wolfgang Schaeuble
Berlin - AFP

German Finance Minister Wolfgang Schaeuble on Sunday pleaded for countries to work together in the fight against tax cheats and money launderers by sharing national lists naming the beneficiaries of shell companies.

The proposal is part of a 10-point plan by Schaeuble, detailed in the Handelsblatt and Die Welt newspapers, to clamp down on tax havens in the wake of the "Panama Papers" scandal which revealed how offshore companies are used to hide wealth.

"The registers should be drawn up at the national level and linked up," Schaeuble told ARD television.

Countries who refused to share tax-related information should face penalties, he added. "We would put them on a blacklist and certain financial operations would no longer be possible with them."

Journalists and non-profit groups should also have access to the information, he said.

The European Union has already set out to work on a joint blacklist of such tax havens, according to Handelsblatt.

"We need total transparency," Schaeuble told Bild newspaper, adding that he intended to present the plan in the coming week.

The minister told German media however that he was not calling for a ban on anonymous shell companies.

His action plan also moots ending Germany's statute of limitations for tax fraud. "Tax evaders should no longer be able to find shelter in the statute of limitations," the document says.

The head of the Organization for Economic Cooperation and Development (OECD) Angel Gurria earlier this week called Panama "the last major holdout" allowing funds to be hidden from tax and law enforcement authorities.

The Central American nation has since said it was prepared to step up its exchange of information with the OECD.

The "Panama Papers" controversy has shone a global spotlight on tax evasion after 11.5 million documents were leaked from Panamanian law firm Mossack Fonseca detailing the offshore financial dealings of the rich and powerful.

The revelations have prompted a number of governments to launch tax fraud and money laundering probes.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today germanys schaeuble urges global push to fight tax cheats Arab Today, arab today germanys schaeuble urges global push to fight tax cheats

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today germanys schaeuble urges global push to fight tax cheats Arab Today, arab today germanys schaeuble urges global push to fight tax cheats

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday