Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Pandora Papers Expose U.S., UK Tax Transparency Flaws, EU Says

Oct. 21, 2021, 3:46 PM

The Pandora Papers should spur the European Union to get tough with the U.S. and the U.K. on tax transparency, European Parliament lawmakers said in a resolution adopted Thursday.

The resolution—a statement of the parliament’s position that the European Commission is obliged to take into account in future rulemaking—was adopted 578-28 with 79 abstentions by lawmakers sitting in Strasbourg, France.

Lawmakers said the Pandora Papers—financial documents of the ultra-rich leaked by the International Consortium of Investigative Journalists—showed that Alaska, Delaware, Nevada, South Dakota, and Wyoming “have become hubs of financial and corporate secrecy.”

They suggested ...