Finland Times

 

File Photo Lehtikuva.

The police union on Thursday announced it will terminate their accounts with Nordea bank and transfer the accounts to domestic banks.

 

According to the Finnish Police Federation (SPJL), the basis for the decision is that Nordea helped its customers establish companies in tax havens in order to avoid taxes.

 

The organisation said in a statement that avoidance and evasion of taxes eat at the bottom of the welfare state. In addition, it shifts the tax burden onto low and middle-income earners.

 

Nordea's activities caused a furor when the Panama Papers leaked information that Nordea had assisted customers in establishing companies in tax havens.

 

In Finland, many customers of the bank have announced the closure of their accounts, including the main opposition party Suomen Sosialidemokraattinen Puolue (Social Democratic Party of Finland- SDP) and Perussuomalaiset (Finns Party), as well as the Vasemmistoliitto (Left Alli-ance), the Finnish Transport Workers’ Union (AKT) has also announced their intentions to leave the bank.