[WATCH] Bartolo pushes for measures making investment in secretive jurisdictions illegal

Bartolo pushes for measures making investment in secretive jurisdictions illegal

Education minister Evarist Bartolo said that measures ought to be initiated to ensure that investing in secretive jurisdictions becomes illegal.

“I think that countries ought to create a register to list all those investing in tax havens,” he said, adding that the registers should in turn be accessed by tax authorities as well as the media, to ensure scrutiny.

Bartolo added that such investments should only be carried out with countries willing to offer full disclosure.

“A full disclosure agreement should be signed between countries to ensure that data concerning investors is readily available and upfront,” he said.

“If individuals continue to insist on setting up accounts in secretive jurisdictions, then it will be a clear indication that they are trying to hide their income for less than decent purposes.”

Bartolo went on to explain that no amount of changing terminology, would change the fact that taxes are being evaded through these set-ups.

“Any tax that is not paid for in your own country is ultimately being stolen from the rest of society, and preventing important projects in sectors like education, health and social services, from actually coming to fruition,” he said, adding that the effect on some countries is such that leads to hardship for the neediest in society.

He explained that fiscal morality should make it obvious that these measures are necessary not just locally, but on an EU and global level.

“People are now expecting the talk spouted at the global anti-corruption summit to be translated into concrete action, and every country, no matter how big or small, has a duty to push for these changes to occur sooner rather than later.”

He added that bigger countries like the United States and the United Kingdom ought to take a long hard look at their own systems to see how they were impacting the global system and what measures were necessary to regulate their own system.

Bartolo went on to agree with prime minister Joseph Muscat’s comments earlier today, suggesting that any such measure should be considered properly, taking into account all the possible consequences to the financial services industry among others.

“One thing remains clear however, and that is that things need to change,” he said.

Education minister inaugurates new wing at Pieta’ primary school

Bartolo was speaking after he inaugurated a new wing at the Pieta’ primary school, as well as giving out books and certificates to the students of the school.

The new wing, comprising of some five new classrooms, was a €40,000 investment. New classrooms include a music room, containing a number of musical instruments, an arts and crafts room, a complementary teaching room, focusing on literacy and writing activities, as well as a PCSD room, multi-purpose room and kitchen for the children.

School principal Theresa Miceli explained that the rooms were essential to provide students with the space to learn skills beyond the educational curriculum. She added that among the things taught, were suitable eating habits as well as general etiquette.

Speaking ahead of the certificate awarding ceremony, Miceli also said that the scholastic year had presented a number of changes and challenges for the school after it had unfortunately been robbed three times in the first term.

She went highlighted the multicultural aspect of the school and stressed that the school was open to different nationalities and beliefs, and added that the new wing would give space for a more full development to students.