Local view for "http://purl.org/linkedpolitics/eu/plenary/2014-11-12-Speech-3-149-500"
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"en.20141112.16.3-149-500"2
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"The situation regarding Luxembourg and tax raises once again the issue of tax dodging and tax havens. International tax evasion and avoidance not only threaten fiscal stability, by making it harder for governments to balance the books, they also undermine social justice, by pushing more of the tax burden onto low- and middle-income households who already bear the brunt of austerity measures. In addition, tax abuses undermine economic efficiency by allowing inefficient tax-dodging companies to out-compete better, more responsible rivals – often the smaller, domestic firms that typically provide the majority of employment. Corporate tax wars also pose a substantial threat. An EU-wide floor on corporate tax rates could prevent some of the worst excesses of a race to the bottom. Much of the damage, however, stems from ‘competition’ to make it easy for companies to shift in, at low or no tax, their profits made elsewhere. Here the EU’s longstanding proposal for a Common Consolidated Corporate Tax Base, and the intra-EU allocation of taxable profits according to the location of actual economic activity, could have powerful effects in curtailing the gaming of the system."@en1
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