Finance

10-point plan for European tax justice

Tax justice

The Greens/EFA group have launched a 10-point plan for tax justice in the European Union, which will form part of its core demands for the coming legislative period in the European Parliament. The Greens/EFA Group has already been at the forefront of driving demands to combat excessive tax avoidance, tax evasion and money laundering in Europe.


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Flickr: shyb (CC BY-NC 2.0)

EU must change from a kerosene tax paradise to a global pioneer for climate action

Aviation/CO2 tax

The non-governmental organisation "Transport and Environment" today published a study, kept secret by the European Commission, on the consequences of a kerosene tax on aviation.


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A step towards greener financial markets

Sustainable investment

The European Parliament has just voted on its position on financial standards for defining what can be considered as sustainable economic activities and sustainable investments.


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Parliament's call for tough action on tax must be heard

Tax

The European Parliament has just approved the special committee on taxation's (TAX 3) final report, which calls for EU Member States to take bold steps in order to tackle tax evasion, avoidance and money laundering. The Tax 3 report laments the lack of progress in the fight against tax avoidance and evasion by EU Member States, despite numerous tax scandals of the last few years and public pressure around the issue.


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Anti-money laundering blacklist debate in European Parliament

Quote from Judith Sargentini

On the initiative of the Greens/EFA group, the European Parliament will debate the "Urgency for an EU blacklist of third countries in line with the Anti-Money Laundering Directive".


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Tax avoidance

Oxfam report on tax blacklist

Quote from Molly Scott Cato MEP

Oxfam have published their latest findings into the EU's tax haven blacklist. European Union finance ministers will sign off on an updated EU black list next week, where it expected that several key tax havens will be removed from the list.


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© juthathip tybon

Sustainable Investments agreement reached

Quote from Molly Scott Cato MEP

“We are proud that once again the EU leads the world on environmental standards: this time by agreeing the world’s first mandatory disclosure regime for a major financial market," Molly Scott Cato, Greens/EFA MEP who worked on the file, comments.


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Tax avoidance

Troika Laundromat leak

Quotes from Judith Sargentini and Molly Scott Cato

The OCCRP have just released their investigation the "Troika Laundromat", exposing how 4.6 billion USD from Russia and elsewhere was channelled through European banks and businesses, in what appears to be efforts to obscure the origin of the funds involved.


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© Andrey Prokhorov

European Semester Winter Package

Quote from Sven Giegold MEP

The European Commission's has just published its European Semester 'winter package', which upgrades Greece's macroeconomic inequalities to "excessive", but leaves Germany with its previous assessment.


en

New EU blacklist successful tool to combat money laundering

Anti-Money Laundering

The European Commission has unveiled its 'blacklist' of 23 jurisdictions where there is a significant risk of money laundering. The list contains 'third country' jurisdictions and includes places such as the Bahamas, the US Virgin Islands, Panama and Saudi Arabia. The list will require all traders in the EU doing business in goods or services worth more than €10,000 in jurisdictions on the blacklist to undertake enhanced due diligence on transactions. The blacklist comes as a result of the EU's Anti-Money Laundering Directive, which is currently being ratified by Member States, and will see the Commission undertake enhanced assessments of the jurisdictions on the list.


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Transparency International Corruption Index

Quote from Benedek Jávor MEP

Transparency International released their annual Corruption Perceptions Index, which showed that among others Hungary has slid in score considerably over the five years. Malta, Romania and Bulgaria have all slipped significantly in TI's rankings in the last year.


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Jigsaw and money © alexsl

Vast differences in corporate tax rates across EU shows urgent need for transparency – new report

Tax

Today, a new report by the Greens/EFA group in the European Parliament shows the privileges given to multinationals through low corporate tax rates across Europe. The report 'Effective Tax Rates of Multinational Enterprises in the EU' quantifies the difference between nominal and effective tax rates for multinationals in the EU. Effective tax rates in the European Union (15% on average) are well below nominal tax rates (23%). Multinationals may have an effective tax rate as low as 2% and as high as 30% across the EU.


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