10/03/17

Panama Papers: Brussels Public Prosecutor’s Office investigates

The Brussels Public Prosecutor’s Office has opened an investigation into tax schemes disclosed in the Panama Papers, belonging to the law firm Mossack Fonseca, reports Brussels Times. 

This emerges today (Thursday) in De Tijd and L'Echo.

The relevant prosecuting authority confirms it is working on the case, as do the Special Tax Inspectorate (known as the “ISI”), the Belgian anti-money laundering cell and a given parliamentary committee.

The investigation is in the hands of the Specialist Department for the Fight Against Federal Police Fraud (known as “OCDEFO”), aiming to find evidence against advisers and firms that participated in such schemes.

The Panama Papers were released on April 3rd, 2016 and contained the names of 732 Belgians or Belgian residents, who set up offshore companies in various tax havens.

Some 76 Luxembourg law firms, in particular, helped such individuals to implement more than 300 schemes through Panama and indeed other exotic locations.