The government has once again cited there were "ongoing investigations" by the Inland Revenue Department to put off publishing the name of politically-exposed people exposed during the Swiss Leaks two years ago.

Replying to a parliamentary question by MP Jason Azzopardi, Prime Minister Joseph Muscat said yesterday that the investigations were not yet concluded.

The 2015 Swiss Leaks are based on around 60,000 files providing details on over 100,000 bank accounts from an HSBC Geneva branch.

Published by the International Consortium of Investigative Journalists – also behind the Panama Papers and the Paradise Papers – these showed that over €600 million was kept in 139 bank accounts linked to Maltese individuals and entities.

It emerged eventually that former Nationalist minister Ninu Zammit hid some $3.2 million in Geneva from Maltese tax authorities, while former Cabinet colleague Michael Falzon had the equivalent of €465,000 deposited there.

In March 2015, Dr Muscat had said the government had obtained the Swiss Leaks data from the French government and would be publishing the names of all Maltese politically-exposed persons mentioned in it.

The Income Tax Management Act says tax information should be treated “as secret and confidential except as may be necessary for the purposes of the Income Tax Acts, or where the Prime Minister otherwise directs”.

On the basis of advice from the Attorney General, the government decided to only publish the names of those who are “politically exposed” – a legal term which refers to people who have been entrusted with prominent public roles, including politicians, members of the judiciary and high-ranking members of the civil service and their relatives.

Tax Compliance Unit data shows that 96 taxpayers featured on the Maltese list of account holders, and in March this year, it was reported that 87 cases have been processed, from which €4.1 million in fines was levied on €2.9 million worth of tax that was evaded down the years. By August, a further €10.5 million was recovered with 92 cases processed or being closed, according to Parliamentary Questions.

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