Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-26-Speech-3-219-937"
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"en.20111026.16.3-219-937"2
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"This is the very first time that I have abstained on a report on tax. The explanatory statement is the main reason for my decision. In it, the rapporteur specifically states that the legislation currently in force, combined with the freedom of movement of capital, allows large multinational groups to fiddle around with the location of different subsidiaries in order to avoid paying corporation tax in full. Some call that tax optimisation. I call it fraud. In France, the average tax paid by the large companies in the CAC 40 is 10%, while SMEs are taxed at the full rate. Both the practice of locating subsidiaries in tax havens for the sole purpose of harbouring part of the profits generated elsewhere and the use of transfer prices are scandalous and must be halted. In legitimately seeking to minimise dual taxation, the legislation has actually created myriad opportunities for non-taxation, under-taxation, tax avoidance and even fraud. In fact, I now have a very different take on the common consolidated corporate tax base championed by Parliament, which would prevent multinationals from engaging in this unhealthy and loathsome charade within the European Union."@en1
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