Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-26-Speech-3-217-750"
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"en.20111026.16.3-217-750"2
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"−
I am in favour of the revision of the Council directive on the common system of taxation. The unsustainably high level of sovereign debt in the EU calls for a common European approach in order to alleviate the effects of the current financial crisis. In recent years, we have seen a fall in the average EU corporate tax rate (from 44% to 23.2%), together with the introduction of EU legislation which tackles double taxation for European corporations.
This is resulting in an inevitable ‘race to the bottom’ of tax rates, in long-term non-taxation, and even in double non-taxation. I would also emphasise the problems that arise when multinational companies make profit in subsidiaries in tax havens outside the EU which attract capital flows by applying zero or limited taxation. The state loses out against multinational corporations which no longer pay their fair share towards financing public needs.
I therefore endorse the imposition of a 25% minimum tax rate applicable in the inbound State and the introduction of measures to tackle double non-taxation. This directive will undoubtedly manage to reduce Member States’ sovereign debt and mitigate the economic differences caused by the different tax systems of countries inside and outside the EU."@en1
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