Response by the Ministry of Finance to reports on the Panama Papers
The Tax and Customs Administration will investigate the information from the Panama Papers that is relevant to the Netherlands. It will particularly focus on information that can be used for taxation purposes. The Netherlands is, after all, a strong advocate of tackling tax evasion and fraud.
At international level, too, the Netherlands is working on measures to prevent tax avoidance and tax evasion. These include the automatic exchange of information between tax authorities.
Trust offices are supervised by De Nederlandsche Bank (DNB), which has stepped up its supervision in recent years. At the start of the year, it launched an investigation of a selection of trust offices to assess the risk of money laundering in professional football. The recent revelations will of course be taken into consideration as this investigation continues. It is expected to publish its findings by the end of June.
Dutch legislation on trust offices has been expanded in recent years. There are plans to tighten it further, taking into account DNB’s recent critical findings.