Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-26-Speech-3-219-875"
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"en.20111026.16.3-219-875"2
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"Parliaments must be creative when it comes to restoring equilibrium, and not only in relation to the financial crisis. In addition to unsustainably high levels of government debt and budget deficits, social inequalities are also on the increase in all European countries. The single market is an integral part of the European project, but it also limits Member State sovereignty, particularly in the area of taxation. The creation of a common internal market to the benefit of businesses and consumers was the main reason behind the adoption of almost all of the European directives in the area of income tax on private individuals. The idea of absolute independence for national lawmakers in the area of taxation, however, does not look favourable. Competition in the area of taxation is stagnating in the EU, policy-making in the public sector is delayed, and it is also more difficult to ensure a more sustainable and socially integrated society, since movement of capital and profits is very easy and lucrative for some people, and at the same time unavailable to others.
A thorough revision of the Council directive on the common system of taxation applicable in the case of parent companies and subsidiaries of different Member States, and aimed at facilitating multinational mergers, is therefore necessary now. Various individual Member State tax systems apply to people and businesses in the EU, and state protection of the tax base is almost always unlawful. I therefore believe that a common European approach is needed in order to correct this situation."@en1
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