From the former UK Prime Minister, Gordon Brown, writing in The UK’s Guardian newspaper:
“In addition to a comprehensive European blacklist of tax havens as the first step to a global blacklist, we should agree that British overseas territories and crown dependencies that fail to comply cannot be excluded from the blacklist; and the UK should now require them to have public registers of beneficial owners.
Britain cannot achieve this on its own. And with America currently resisting reciprocal tax arrangements, collective action by all 28 countries of the European Union to blacklist avoiders, impose sanctions and even levy withholding taxes – on our own overseas territories, if necessary – is currently the one game in town.”
We’ve been campaigning on so-called country by country reporting since 2003, and now world leaders, and many others, are beginning to introduce changes to bring this basic transparency measure for multinational corporations to life. The website endsecrecy.eu has a new campaign to try and put pressure on European leaders to make sure that proposed changes are not eviscerated by corporate lobbyists keen to preserve financial secrecy for their corporate clients. Endsecrecy.eu offers pointers for you to act now to support this measure. As they say:
It cites one player in the spreading game:
“It’s going nuts. Everyone is doing it or looking into it,” says a tax consultant, speaking of the American loophole.”
The European Commission has announced:
“The European Commission has today opened up a new chapter in its campaign for fair, efficient and growth-friendly taxation in the EU with new proposals to tackle corporate tax avoidance. The Anti Tax Avoidance Package calls on Member States to take a stronger and more coordinated stance against companies that seek to avoid paying their fair share of tax and to implement the international standards against base erosion and profit shifting.”
TJN has found the proposals disappointing, to say the least. A TJN statement follows.
In the wake of the “Luxembourg Leaks” scandal, more than 30 organisations from the Tax Justice Europe network have written to members of the European Parliament strongly supporting a proposal from Green MEPs to set up a stand-alone investigative committee of the European Parliament to tackle corporate tax avoidance across the union.