Dear friends, dear interested, The European Securities and Markets Authority (ESMA) is celebrating its birthday. 10 years have passed since its establishment on 1 January 2011. Time to take stock. On the occasion of its anniversary, ESMA is organising a public online conference on 23 March 2021. At the conference, I will join a high-profile […]
Crooked dealings: Market abuse in connection with Cum-Ex and co. must be rigorously prosecuted
Dear friends, dear interested, Billions of euros have been looted from public coffers through Cum-Ex and co. These tax fraud schemes all involve crooked dealings on the financial markets. To obtain refunds for unpaid dividend taxes, the fraudsters have to trade in shares and derivatives on a grand scale. All these transactions have no other […]
Greensill Bank: Deposit insurance must be rigorously linked to risk
Media reports in recent days suggest that Bremen-based Greensill Bank AG could be in acute distress. The bank is a subsidiary of the British-Australian group Greensill Capital, which specialises in supply chain finance. The group had to file for bankruptcy protection in Australia this week after Crédit Suisse and Swiss asset manager GAM stopped important […]
New study: Bayer AG promotes disastrous tax competition in Germany and Europe
Today (1 March), the Greens/EFA Group in the European Parliament publishes a study on unfair tax competition. Using the example of the German Bayer AG, the study examines how large corporations save taxes by actively using and even promoting tax competition between municipalities and states within Europe. Previously, our group had already investigated BASF, IKEA, […]
An earthquake moment in the tax world: breakthrough for tax justice in Europe!
Dear friends, Today is truly a great day. For greater tax transparency, for our democracy and also for me personally. Because just now (Thursday, 25.02) the Ministers for Economic, Industrial and Research Policy in the EU have made a groundbreaking decision in the fight against tax avoidance of multinational companies. With a clear qualified majority, […]
An earthquake moment in the tax world: breakthrough for tax justice in Europe!
At the meeting of the Ministers for Economic, Industrial and Research Policy (COMPET) this afternoon (Thursday, 25 February), a landmark decision was taken in the fight against tax avoidance. With a broad and qualified majority, the COMPET adopted a proposal for public country-by-country reporting, despite a continued blockade by several Member States. The proposal of […]