Local view for "http://purl.org/linkedpolitics/eu/plenary/2016-05-11-Speech-3-508-000"
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"en.20160511.25.3-508-000"2
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"Mr President, this law requiring the automatic exchange of information about where companies make their money is a step towards transparency. In future, tax authorities will be able to see where companies earn money and create value and if they shift profits to avoid paying tax. But this is a long way short of the full public country-by-country reporting that we as Greens have been calling for. We need this information to be publicly available and for all multinational companies, not just a few of the large ones.
The EU can, and should, be a global leader in ambitious actions for tax justice. The leak of the Panama papers exposed the extent of the network of tax havens and overseas territories that help wealthy people hide their money. The data make it clear that the UK is at the heart of the web of offshore tax havens. Over half of the companies listed had been registered in the British Virgin Islands, and when you trace the people or companies behind these shell companies the UK itself ranks fifth for linked companies.
David Cameron has a real opportunity this week to demonstrate his commitment to tax transparency as he hosts the UK Anti-Corruption Summit. He can put an end to shell companies by requiring British overseas territories to introduce a mandatory public register of beneficial ownership. This would be a real step towards ending tax havens and secrecy jurisdictions and I support the calls made this week by over 300 economists for this to happen. Let us end tax havens once and for all."@en1
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