The European Commission attacking the tax opacity
The European Commission presented today in Strasbourg package of new measures to combat tax evasion of multinational companies when the scandal of Panama Papers intensify the pressure on the large countries to tackle the scourge.
The presentation to Parliament of the draft drawn up by the European Commissioners for Economic Affairs Pierre Moskovisi and Financial Stability Jonathan Hill was scheduled long ago and takes place after public consultation and assessment results.
but coincides with the shocks that have caused the disclosures of Panama Papers for tax evasion on a large and global scale.
"I am angry with what was revealed ... fraud, tax evasion and aggressive tax optimization scourge," said Pierre Moskovisi last week in Brussels.
Specifically, the European Commission today presented a new Directive which provides for the publication - country to country within the European Union's accounting and tax records of multinational companies, ie the data of turnover, profitability and their tax base and taxes paid in the various States of the Union.
"Since we have a subsidiary in the EU and have a turnover of 750 million, the companies, whatever the nationality thereof; European, but also American, Australian, Chinese ... - will be obliged to disclose information these "explained Pierre Moskovisi the daily Le Parisien.
"For those that do not have subsidiaries in the EU, we ask the same information for their overall activities around the world requiring more information on their activities in the countries on the list of tax havens," stated the European Commissioner.
This proposal is not sufficient for many non-governmental organizations seeking more transparency. As ngos One criticized the fact that only large companies are invited to disclose such information for their activities.
The European Commission presented today in Strasbourg package of new measures to combat tax evasion of multinational companies when the scandal of Panama Papers intensify the pressure on the large countries to tackle the scourge.
The presentation to Parliament of the draft drawn up by the European Commissioners for Economic Affairs Pierre Moskovisi and Financial Stability Jonathan Hill was scheduled long ago and takes place after public consultation and assessment results.
but coincides with the shocks that have caused the disclosures of Panama Papers for tax evasion on a large and global scale.
"I am angry with what was revealed ... fraud, tax evasion and aggressive tax optimization scourge," said Pierre Moskovisi last week in Brussels.
Specifically, the European Commission today presented a new Directive which provides for the publication - country to country within the European Union's accounting and tax records of multinational companies, ie the data of turnover, profitability and their tax base and taxes paid in the various States of the Union.
"Since we have a subsidiary in the EU and have a turnover of 750 million, the companies, whatever the nationality thereof; European, but also American, Australian, Chinese ... - will be obliged to disclose information these "explained Pierre Moskovisi the daily Le Parisien.
"For those that do not have subsidiaries in the EU, we ask the same information for their overall activities around the world requiring more information on their activities in the countries on the list of tax havens," stated the European Commissioner.
This proposal is not sufficient for many non-governmental organizations seeking more transparency. As ngos One criticized the fact that only large companies are invited to disclose such information for their activities.
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