Financial Transparency Coalition

On the 22 September, the Committee for Economic and Monetary Affairs (ECON) in the European Parliament passed a report containing both concrete measures and broader statements against the race to the bottom in European corporate taxation, citing the financial strain this is placing on European countries and their citizens. The EU is currently revising the parent-subsidiary directive, with the intention of preventing double or multiple taxation when the profits of a subsidiary are distributed to the parent company or companies. Too often such treaties effectively lead to double-non taxation. To address this the MEPs voted for an amendment to...

Taxation plays an important role in democratic governance and market economies. Tax revenue finances social and physical infrastructure. It reinforces national sovereignty. When coupled with good governance and institutions, it ensures that the costs and benefits of development are felt across society.

LONDON – In a sign of growing anxiety about tax competition that costs governments billions of dollars a year, international economic policymakers are exploring the need for a global crackdown on tax loopholes.

WASHINGTON – G20 ministers’ latest plan to help poor countries misses an opportunity to drive massive change because it neglects action against tax dodgers, says Christian Aid.