Scicluna refuses to 'interfere in merits' of Panamagate case

Finance minister Edward Scicluna refused to share his views on offshore Panamanian companies owned by health and energy minister Konrad Mizzi and OPM chief of staff Keith Schembri.

Scicluna said that it would not be appropriate for him to "interfere in the merits of the case" given that Mizzi's controversial company is currently under investigation by the Inland Revenue Commissioner. 

"The Tax Commissioner falls under my remit as minister, and I can ensure you that he is doing his job and proceeding in his investigations according to the law."

The minister was answering questions from the press, following a press conference at the finance ministry to announce incentives for people who continue working beyond retirement age.

He was coy on warnings that a full, transparent investigation of Mizzi's company will prove to be impossible, given Panama's loose financial laws on people setting up companies.

"It would appear to me that the Tax Commissioner will not encounter any problems, since Mizzi has given him a waiver to investigate anything he deems fit. However, I am not aware of the full circumstances of the case so cannot comment with full conviction."

Scicluna dodged MaltaToday's question on whether he considers it acceptable for a minister to set up a company in a notorious tax haven.

"The Prime Minister already commented and Mizzi admitted that [his choice if Panama] was a mistake and I have nothing more to add," he said.

Scicluna chose to focus on Mizzi’s New Zealand trust, that owns 100% of the shares of his Panamanian company Hearnville.

“Several European Commissioners set up and declare their own trusts to manage their wealth. The issue is not whether ministers should be allowed to open trusts but whether Mizzi’s motivation in doing so was legitimate.”

The finance minister refused to give a direct answer when asked whether he was interested in becoming the Maltese representative at the European Court of Auditors, following Toni Abela’s rejection by the European Parliament’s budgetary committee.

“When the Prime Minister asked me to stand for election, I stepped down from my high-paying position as MEP,” he said. “I am not one to abandon ship, but one who is willing to stay the course when the going gets rough.”

The finance minister laughed off questions by PN news media on whether he has offered his resignation to the Prime Minister.

“Resign? As if…” he said.