Prime Minister Joseph Muscat confirmed this morning that the Maltese tax authorities have the full Swiss Leaks list which was given to them by the French authorities.

He said he had no access to the list but it will be up to the Commissioner of Inland Revenue to hand him the list of those involved who are politically exposed. Once that happened, he will take the necessary action and publish it after the necessary safeguards by law have been taken.

He said investigations are under way as to the origins of the funds hidden by former ministers Ninu Zammit and Michael Falzon.

 

The Malta Independent two weeks ago reported that both Mr Zammit and Mr Falzon held Swiss bank accounts which were undeclared. 

Dr Muscat said the process for the government to get the list started a month ago when he met French President Francois Hollande. A formal request for the list was then made by the Maltese tax authorities.

He said the list was officially handed over to the Maltese tax authorities today in Paris. 

Dr Muscat said the Maltese authorities have known about the list since 2010. Other countries, including the UK, were given a copy but Malta had never requested one.

The Prime Minister said he has instructed the Commissioner of Inland Revenue to investigate the data immediately and to give the documents ‘absolute priority’.

The information is governed by the Double Taxation Agreement between Malta and France and the European Savings Tax Directive. These make it clear that the data may not be divulged indiscriminately.

Advisors have also told him that if the information is published the government could face serious legal action. However, in accordance with other tax laws, he may request the list of politically exposed people, who would have to step down if any wrongdoing was found. Dr Muscat said not all people on the list may have been evading tax as some could have been declaring their funds.

Dr Muscat said that those on the list may not necessarily be evading tax as they may have been declaring the funds.

The Prime Minister said that no further tax amnesties are planned.

Dr Muscat said no one within the Labour Party including MPs and party officials have declared involvement in Swiss leaks.