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Sun, 17 Apr, 2016 12:05:00 AM
Panama Papers leak
FTimes – STT Report, Apr 17
 
OP's CEO Reijo Karhinen. File Photo – Lehtikuva.
OP Pohjola Financial Group Executive Director Reijo Karhinen names said the fight against tax havens is primarily in the hands of politicians. 
 
Talking to the National Broadcaster Yle in its Ykkösaamu (Morning breakfast programme) on Saturday, Karhinen viewed on, among other things, the Panama Papers.
 
According to Karhinen, the data leakage is a serious blow to the entire financial sector, but at the same time, they have contributed to an increase in transparency.
 
“The requirement for transparency is much stronger than in the past, and [due to the Panama Papers], the requirement has become more apparent,” he pointed out.
 
He also said that the size of the leak surprised him. Karhinen believes the tax haven phenomenon originates from greed, gaps in legislation and a broader crisis of values. 
 
He pointed out that gaps in the law are the responsibility of politicians.
 
He pointed out that “Many wonder, for example, how there can be different taxations within the EU and why those differences have not been harmonised.”
 
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