Local view for "http://purl.org/linkedpolitics/eu/plenary/2017-07-04-Speech-2-094-000"
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"en.20170704.3.2-094-000"2
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"Madam President, public country—by—country reporting is the single most important action that we can take to lift the veil on profit shifting by multinationals which results, as we know, in EUR 500 billion in tax being lost each year. So we need to get it right. Limiting the proposal to companies with a turnover of more than EUR 750 million excludes 85% of multinationals; it should apply to those making more than EUR 40 million. We need to demand that companies report the full breakdown of their figures in each country – not only in EU states and countries on a future EU tax blacklist, which we know will be a very limited list. It is appalling, I have to say, that conservative groups in this House have introduced a so—called ‘safeguard clause’ on this global breakdown. This is a loophole you could drive a truck through. And make no mistake, its purpose is to continue to allow profit shifting to tax havens to go unhindered. The only people with anything to fear from tax transparency are tax cheats and their cheerleaders, so why – the question needs to be asked – are you helping them?"@en1
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