Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-25-Speech-2-659-000"

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"en.20111025.32.2-659-000"2
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"Madam President, by modifying the Council directive on a common taxation system, we could help to tax profits of supranational parent companies that go to the state of the parent company from the subsidiaries, from countries which attract capital flows, so that the capital coming from the third countries is not properly taxed. Such profits most often come from tax havens and are often declared as licence payments for the use of intellectual property. The profit then goes through the country of the subsidiary to the parent company with a head office in a Member State of the EU, often with no tax whatsoever. Supranational companies thus avoid paying tax on profits, and so do not contribute a fair share towards funding the social needs of their state. A similar mechanism also applies to the dividend which parent companies obtain from their subsidiaries in neighbouring Switzerland. The proposed solution of the rapporteur, Mr Giegold, therefore raises the requirement that a tax of approximately 25% be levied in the state to which the profit goes, if the profit was not previously taxed in the country from which it came. At a time when the state coffers of our countries need every euro they can get, this proposal may appear to be one way of boosting the budget."@en1
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