Intensify further the fight against tax evasion. Such is the will “convergent” the ministers meeting in Amsterdam. The creation of a “black list” is particularly envisaged by the end of summer.
The 28 finance ministers of EU meeting in Amsterdam showed their determination to intensify the fight against tax evasion in response to the scandal of Panama Papers endorsing “unanimously” of recent European initiatives such as creating a common blacklist of tax havens. After the scandal of international concern, including the cascading revelations fueling chronic for three weeks, “the sense of urgency is clearly much more important (…), everyone is very committed to fill the gaps” said Saturday Jeroen Dijsselbloem, Dutch finance minister, whose country holds the rotating presidency of the EU.
“We have been very busy fighting each other we on our tax systems, so that our countries are as attractive as possible for investors. Now we got to the point that large companies tend to not pay taxes, “he added. During the open meeting Friday in Amsterdam, all ministers endorsed the initiative launched it ten days ago by five European countries (Germany, Spain, France, Italy and Great Britain) to experience the automatic exchange of information, within the EU, to identify beneficiaries front companies.
“There is a common will, assumed proclaimed fight against anonymous mechanisms,” not to know that behind these companies, said french Finance Minister Michel Sapin. At present, financial arrangements can create legal structures (individual limited liability company, trust, foundation …) concealing the identity of the real beneficiary, blurring the slopes and greatly complicate the task of tax authorities .
the 28 finance ministers also approved the eventual creation of a single black list, common to all EU tax havens, as requested by the European Commissioner for economic Affairs Pierre Moscovici, who spoke of a goal “by the end of summer.” The negotiations will be difficult, the Member States have widely varying policies on tax havens. It will initially define a common method to identify which could be included on such a list. Proposals to this effect will be submitted to the 28 ministers at a forthcoming meeting in May.
About the incentive to tax more transparency from multinational, the Dutch EU presidency assured that it would launch “next week” discussions between Member States on the Brussels proposal to give public access to key accounting and tax data for large companies. With Germany and Britain in particular, France has among the member countries to support this “broad publicity” on big business activity (whose annual turnover is at least EUR 750 million) said Saturday Michel Sapin.
According to him, you must not condition the progress on this issue in Europe that the United States also practice transparency, while the specific regulatory conditions offered by some states Americans like Delaware (east), attracting many companies are regularly criticized. In absolute “must be international harmonization but it should not be expected (…) you have to break this vicious circle” meaning that “for 20 or 30 years we will be told later because the whole world does not, “said the french minister.
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