Every year, an astonishing amount of public money is lost worldwide due to tax evasion and tax avoidance. Recently the Tax Justice Network calculated that over €350 billion a year is lost in corporate tax revenues alone.
Tax havens play a very important role in these financial losses to the EU and to EU Member States. The EU has established a list of non-cooperative jurisdictions for tax purposes. The emergence of new challenges and the shortcomings and limitations in the criteria applied have prevented the list to be fully efficient in fighting tax havens.
The EU listing process is therefore in urgent need of revision to ensure that it is up to date with recent developments and that it does not allow for loopholes and arbitrariness. The FISC Subcommittee is preparing a motion for resolution on the subject.
On 7 December 2020, The FISC Subcommittee held a debate on the amendments tabled to the draft motion for resolution and ECON voted on the motion on 10 December 2020.
The EU listing process is therefore in urgent need of revision to ensure that it is up to date with recent developments and that it does not allow for loopholes and arbitrariness. The FISC Subcommittee is preparing a motion for resolution on the subject.
On 7 December 2020, The FISC Subcommittee held a debate on the amendments tabled to the draft motion for resolution and ECON voted on the motion on 10 December 2020.
Source : © European Union, 2020 - EP
