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At the third day of the World Economic Forum 2017 in Davos, the session “Taxation without Borders: A Fair Share from Multinationals” took place where tax-base erosion and profit shifting policies were discussed in view of the Panama Papers and the fact that countries lose tones of money when multinationals implement such strategies. Emerging countries […]
It was last Sunday when the EU and Canada signed the free trade agreement CETA (Comprehensive Economic and Trade Agreement), despite the protest taking place just outside the European Council’s building. This deal is meant to create more jobs and growth through stronger economic relations. However, the approval of the national parliaments in Europe and […]
No, it wasn’t just the tiny Wallonia region of Belgium and its 3.6 million French speaking inhabitants who blocked CETA (Comprehensive Economic and Trade Agreement). This is an EU-Canada free trade and investment pact that took eight years to the Brussels Commission and the Canadian authorities to draft. It was also the Brexit and the […]
When it comes to ‘selling’ its proposals to EU member states’ government and peoples, the European Commission turns the calendar some centuries back and starts painting saintly icons. The more inportant the proposal it is, the more boldly the Commission hides the real ‘catch 22s’ from citizens, under the bright colors of imaginary gains for […]
The Panama Papers did not offer to the world community much more news than most people already knew. For example, the ‘revelation’ that a close friend to the Russian President Vladimir Putin was enormously rich without having labored for his wealth, is no news at all. Every Russian or informed citizen in the entire world […]
Some multinationals (MNEs) such as FIAT and Starbucks have been overdoing it in the EU for quite some time now. The case of tax investigation of the aforementioned companies on whether they have paid the correct amount of corporate income tax or not is ongoing for over a year now. The Commissioner responsible for Competition, Mrs […]
On Tuesday 6 October the powerful Economic and Financial Affairs Council of the European Union, the well know ECOFIN group, took a decision advertised to be monumental. For the first time ever the 28 EU countries agreed to shed some light on the ‘tax rulings’, as well as at the ‘advance pricing arrangements’. These are […]
Rules for state aid covering research, development and innovation investments (R&D&I) are already relaxed in the European Union, in order to facilitate growth and job creation. Mind you that in this case the bending of competition rules is not confined to very small businesses, the SMEs and mid cups, but covers the entire constellation of […]
The European Commission, after having facilitated for decades the tax avoidance and evasion practices of multinationals with the ‘Parent-Subsidiary Directive’, yesterday decided to just reduce the size of the extra-large loop holes the big multinationals use for years to avoid and evade taxation. With a Press release issued yesterday, the Commission almost recognised that it […]
Despite the fact that the civil society is fed up with the absolute indifference of the financial sector about what happens in the real economy, the western political elites continue to nurture the insatiable appetite of the banking system for more book profits. In view of that, the European Economic and Social Committee issued yesterday […]
Last Saturday the ministers of Finance of the G20 council agreed in Moscow to tackle global tax evasion by adopting a 15-point OECD Action Plan, which supposedly will give governments the domestic and international arms they need to combat tax Base Erosion and Profit Shifting (BEPS). The responsible European Commissioner for tax issues Algirdas Šemeta […]
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