Dear friends, dear interested,
In just a month, Portugal will take over the presidency of the Council of the European Union from Germany. In the area of taxation, the German presidency was completely unwilling to bring public tax transparency for multinational companies (public country-by-country-reporting) to a vote and thus blocking this important proposal. And that despite the fact that there is very likely a qualified majority of EU member states in favour of the proposal.
All eyes are now on the incoming Portugese Council Presidency to finally allow a vote on stronger tax transparency. The latest research by the Tax Justice Network shows that globally $427 billion in tax is lost every year to tax havens, while $245 billion is directly lost to corporate tax abuse by large multinational corporations. Most tax revenues are lost in EU member states, with Portugal being particularly affected. Research also shows that public CBCR is effective in dis-incentivising profit-shifting away from the EU taxpayers into tax havens.
Considering the extreme strain on public finances caused by the COVID-19 pandemic, it is more important than ever to fight tax avoidance and have multinational companies pay their fair share for the recovery from the crisis.
In light of this, I am honoured that Ana Gomes, seasoned diplomat, long-term good colleague in the European Parliament and fighter against tax injustice and corruption, has invited MEP Paul Tang and me to discuss this topic in a webinar. Ana has worked against financial crime inter alia in Angola, Malta, Madeira and in Portugal as a whole. Ana is running to become the next President of the Republic of Portugal in 2021.Paul Tang is a Dutch Social Democrat and chairperson of the brand new European Parliament’s subcommittee on Tax Matters, in which I work as coordinator for the Greens/EFA Group.
Date: Tuesday, 8/12/2020, 7-9pm CET (Brussels time) / 6-8pm (Lisbon time)
Register here: https://us02web.zoom.us/webinar/register/1016069105771/WN_gOpUaMKLSNSJJ93hStQQ1A
Please join us for this interactive discussion and share the invitation with others who might be interested.
With European wishes,
P.S.: As Greens/EFA group, we have written to the incoming Portugese presidency asking to put public CBCR on the table (see here: https://sven-giegold.de/en/letter-to-portuguese-presidency-on-tax-justice/)