An honorary consul and a former ambassador are among those on the Swiss Leaks list who may be considered as being politically exposed, depending on how the government decides to interpret the term.

A one-time formula one driver who now lives in Malta also features on the list

Prime Minister Joseph Muscat said he will publish the list of politically exposed persons once he obtains it from revenue commissioner Marvin Gaerty.

The Financial Intelligence Analysis Unit says the term “politically exposed persons is broad and generally includes all persons who fulfil a prominent public role.”

This can extend to any person who is or has been entrusted with a prominent public function.

The most prominent political figures are those named by The Malta Independent on Sunday last month, namely former PN ministers Ninu Zammit and Michael Falzon.

Mr Zammit hid €3.2 million in his secret Swiss account during his time as a cabinet minister. He repatriated the money in 2014 under a government amnesty.

Michael Falzon hid €465,000 in his secret account, which was also repatriated under amnesty. Mr Falzon has since apologised for his “omissions,” and for failing then Prime Minister Eddie Fenech Adami as well as his parliamentary colleagues and the electorate.

Speaking during a press conference this week, the Prime Minister said no further tax amnesties such as the ones the two former ministers benefitted from are envisioned.

Dr Muscat said the sources of both Mr Zammit’s and Mr Falzon’s funds are being investigated.

AD asks Auditor General to investigate 2014 tax amnesty

Alternattiva Demokratik has called on the Auditor General to investigate the 2014 tax amnesty.

AD Chairman Arnold Cassola and Deputy Chairman Carmel Cacopardo yesterday met the Auditor General to request the examination by his office of the manner in which the Central Bank of Malta and its authorised agents handled the 2014 amnesty.

Alternattiva Demokratika said it was concerned as to whether and to what extent verification of the origin of the registered assets was carried out.

In particular, the Auditor General was requested by Alternattiva Demokratika to carry out an investigation into the operation of the scheme such that it be ascertained that the Central Bank of Malta and its agents properly verified the source of the registered investments.

 

The Malta Independent on Sunday will be publishing more revelations from the Swiss Leaks list in tomorrow’s issue of the paper.