Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-03-14-Speech-4-109"

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"en.20020314.6.4-109"2
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". Mr President, for too long the EU banking sector has been permitted to operate in a culture of secrecy for fiscal purposes. Not only does this contradict the EU's aims to have more transparency and openness, but it also creates a situation whereby there is unfair tax competition. Therefore, I wholeheartedly welcome moves by the Commission to tighten up this situation and combat harmful tax practices once and for all. However, it is vital, as this report points out, that this directive should apply to such as the Channel Islands. If these were to be excluded, the entire directive would be undermined by those who choose to bank in certain preferential tax havens. This directive will do much to ensure that the single market is not distorted by asymmetric tax regimes and it will create a situation whereby, after a transition period of three years, Member States will exchange information on savings income received by non-residents. These moves will enhance European citizens' rights vis-à-vis big banking corporations."@en1
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"dependent territories"1

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