Local view for "http://purl.org/linkedpolitics/eu/plenary/2015-04-30-Speech-4-034-000"

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"Madam President, may I respond directly to Mr Rosati. The Bank is of course required to employ its funds as rationally as possible in the interest of the European Union. It is in all of our interests, for example, that the fiscal capacity of Member States is preserved, and that the EU’s aid policy is not undermined by tax leaking away from developing countries. It is that point which motivates many of the requests that have been made of the Bank. The Bank did, in 2009, become a pioneer when it adopted a policy against non-cooperative jurisdictions, but as we all know, that policy has lost many of its teeth as those jurisdictions have creatively complied with the letter of OECD requirements, rather than complying with their spirit. So the time really has come for the Bank to adopt an up-to-date responsible taxation policy and that would involve three measures during the exercise of the Bank’s due diligence, particularly for intermediaries which, as my colleague Hugues Bayet said, are a particular problem. Firstly, we need the Bank to make use of the measures contained within the Anti-Money-Laundering Directive and particularly to access the new registers of beneficial ownership of companies. Secondly, it must require its partners and clients to publish their accounts in detail, the so-called country-by-country reporting, and finally, rather than using restricted information from the Global Forum on Transparency, it must use the broader range of criteria to assess tax compliance and openness such as that contained within the Financial Secrecy Index."@en1
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