20/14700: Recommendation for a resolution and report of the 1st Committee of Inquiry of the 20th parliamentary term in accordance with Article 44 of the Basic Law (PDF)
Recommendation for a resolution
The Bundestag decides:
- The report of the 1st Committee of Inquiry of the 20th parliamentary term is accepted.
- The Federal Government is requested, based on the findings of the Committee of Inquiry, in particular
a) to create a legal framework that enables an effective fight against tax evasion and tax avoidance,
b) to take further measures to combat economic and financial crime and to close legislative loopholes,
c) to close loopholes in the prosecution of organized crime,
d) to create transparent structures, in particular through the introduction of a register of beneficial owners,
e) to improve the exchange of information between authorities,
f) to improve the exchange of information between Germany and other states,
g) to create an independent authority for the confiscation of criminal assets,
h) to improve the enforcement of confiscation orders,
i) to strengthen the financial investigation service,
j) to take further measures to combat money laundering,
k) to strengthen the independence of the judiciary,
l) to improve the training and qualification of law enforcement officers,
m) to strengthen the preventive measures against tax evasion and tax avoidance,
n) to strengthen the preventive measures against economic and financial crime,
o) to strengthen the preventive measures against organized crime,
p) to strengthen the preventive measures against money laundering,
q) to strengthen the preventive measures against the financing of terrorism.
- The Federal Government shall report to the Bundestag on the implementation of these measures by 31 December 2018.
Report
I. Introduction
The 1st Committee of Inquiry of the 20th parliamentary term was set up on 10 February 2017 on the basis of Article 44 of the Basic Law. The Committee’s mandate was to investigate the “Panama Papers” affair.
The Panama Papers are a collection of over 11 million documents from the database of the Panamanian law firm Mossack Fonseca. The documents were obtained by the German newspaper Süddeutsche Zeitung and shared with the International Consortium of Investigative Journalists (ICIJ). The ICIJ published the documents on 3 April 2016.
The Panama Papers revealed that Mossack Fonseca had helped its clients to set up offshore companies in order to evade taxes and launder money. The documents contained information on over 214,000 offshore companies and their owners.
The Committee of Inquiry was tasked with investigating the extent to which German citizens and companies were involved in the Panama Papers affair. The Committee also investigated the role of German authorities in the affair.
The Committee of Inquiry held 41 public hearings. It heard evidence from over 100 witnesses. The Committee also commissioned several expert reports.
The Committee’s report is divided into seven chapters. The first chapter provides an overview of the Panama Papers affair. The second chapter examines the involvement of German citizens and companies in the affair. The third chapter examines the role of German authorities in the affair. The fourth chapter makes recommendations for legal reforms. The fifth chapter makes recommendations for administrative reforms. The sixth chapter makes recommendations for international cooperation. The seventh chapter makes recommendations for further research.
II. Involvement of German citizens and companies
The Committee of Inquiry found that there is a significant number of German citizens and companies involved in the Panama Papers affair. The Committee found that over 10,000 German citizens and companies are mentioned in the Panama Papers.
The Committee also found that German citizens and companies used offshore companies for a variety of purposes, including tax evasion, money laundering, and asset protection.
III. Role of German authorities
The Committee of Inquiry found that German authorities were aware of the Panama Papers affair but did not take sufficient action to investigate it. The Committee found that the Federal Ministry of Finance was aware of the Panama Papers affair in 2015 but did not take any action to investigate it.
The Committee also found that the Federal Criminal Police Office (BKA) was aware of the Panama Papers affair in 2016 but did not take any action to investigate it.
IV. Recommendations for legal reforms
The Committee of Inquiry makes a number of recommendations for legal reforms. These recommendations include:
- Introducing a register of beneficial owners.
- Closing loopholes in the prosecution of organized crime.
- Strengthening the financial investigation service.
- Taking further measures to combat money laundering.
- Strengthening the independence of the judiciary.
- Improving the training and qualification of law enforcement officers.
V. Recommendations for administrative reforms
The Committee of Inquiry makes a number of recommendations for administrative reforms. These recommendations include:
- Improving the exchange of information between authorities.
- Improving the exchange of information between Germany and other states.
- Creating an independent authority for the confiscation of criminal assets.
- Strengthening the preventive measures against tax evasion and tax avoidance.
- Strengthening the preventive measures against economic and financial crime.
- Strengthening the preventive measures against organized crime.
- Strengthening the preventive measures against money laundering.
- Strengthening the preventive measures against the financing of terrorism.
VI. Recommendations for international cooperation
The Committee of Inquiry makes a number of recommendations for international cooperation. These recommendations include:
- Establishing a global register of beneficial owners.
- Strengthening the exchange of information between countries.
- Developing common standards for the prevention and prosecution of tax evasion, money laundering, and organized crime.
VII. Recommendations for further research
The Committee of Inquiry makes a number of recommendations for further research. These recommendations include:
- Researching the impact of offshore companies on the German economy.
- Researching the role of German banks in the facilitation of offshore companies.
- Researching the role of German lawyers in the facilitation of offshore companies.
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