Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-12-01-Speech-3-201"
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"en.20041201.18.3-201"2
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"Mr President, I would first of all like to thank the rapporteur, Mr Gauzès, for his excellent work. We have in Mr Gauzès a very skilled and professionally competent addition to this Parliament.
I myself agree that the EU should aim for income policy agreements and cooperation with its neighbouring states. This way we can be sure we are operating according to the same rules as our neighbours. It is especially important to make efforts to prevent fraud and money laundering as part of the fight against terrorism also.
The legal barriers regarding financial services in the EU’s internal market have already been removed in the main, or they are being removed right now. The function and strength of the internal market depend precisely on how effectively we can agree and implement acts at European level in those areas where they are needed. By this I also mean implementing decisions in Member States and monitoring that implementation, something that is often less than satisfactory.
There is, however, much to be done, especially still in the area of taxation. For example, in January 2003, FEFSI, the European Federation of Investment Funds and Companies, published a study on various tax barriers that investment fund managers have encountered in the internal market. The study said that tax barriers are one of the major obstructions to a real single market in investment funds. These, of course, are not directly linked to earned interest, but they certainly are linked to impediments in investment and capital markets.
There is thus a need for standardisation in taxation. I do not believe, however, in any beneficial effects of complete harmonisation of taxation. Healthy competition, rather, among the EU Member States and with neighbouring states too, is ideal for boosting the effectiveness of our markets and bringing benefits to end users. Cooperation and harmonisation must be brought about in tax bases, that is, the things that we tax, and in administrative collaboration.
Finally, I would like to make a request to Commissioner Kovács. In the hearing you referred to the Tobin tax and indicated you were interested in this. I would hope, however, that you will take into consideration in your future work the view put forward on numerous occasions by the European Parliament that we do not want any initiatives from the Commission regarding matters to do with transfers of assets."@en1
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