pandora papers

pandora papers

The Investigation Of Large Fortunes Would Amount To €38 Bn, Half Of The Non-Refundable European Funds

The experts of the Spanish Ministry of Finance (GESTHA in its english acronym) estimate that the investigation of large fortunes would raise half of the non-refundable European funds, after the International Consortium of Investigative Journalists (ICIJ) has uncovered the secret files of 14 law firms that reveal opaque societies of politicians, millionaires and artists from more than 90 countries. Specifically, GESTHA calls for the reinforcement of tax investigations into the most serious tax crimes and frauds in order to close the hole through which 38 billion euros – half of the non-refundable Next Generation EU Funds – are escaping due to the greater differential of the underground economy in Spain compared to the European average.