| Title of Document: |
MEPs call for more binding tax cooperation to tackle banking secrecy and fraud |
| Keywords: |
binding tax cooperation, banking secrecy and fraud |
| Author: |
European Parliament Press Release |
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| Codex-online publication date: 02/12/2010 |
| Date of Original Publication: 02/12/2010 |
| Country: EU |
Summary: Through a packet of tax related resolutions adopted on Wednesday, MEPs pushed forward a generalisation of the automatic exchange of information for all types of taxes as well as more efforts to fight tax havens and the practice of banking secrecy.
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Following on from Monday's joint debate on taxation, the European Parliament adopted three legislative resolutions dealing with proposed directives on fraud and recovery of tax claims together with a resolution on good governance in tax matters.
Good governance in tax matters
This resolution deals with the broad issue of tax cooperation in the EU and comes as a follow-up to several initiatives both in the EU and at the international level. The resolution condemns tax havens, urges Member States to prioritise the fight against them and calls for a public register to increase transparency regarding companies' dealings with tax havens. It puts a strong emphasis on the need to promote the automatic exchange of information an end to banking secrecy. The resolution also requests that more be done on VAT-related fraud and proposes the use of incentives and sanctions to improve tax governance. Rapporteur: Leonardo DOMENICI (S&D, IT)
Administrative Cooperation in the field of taxation / tax fraud
The European Parliament sent a clear message supporting the Commission proposal to introduce a general system of automatic exchange of information between Member States for all taxes, except VAT and excise duties, which are already subject to similar rules. The EP introduces technical improvements allowing for a more efficient lifting of bank secrecy, gives powers to the Commission, under the control of the Council and Parliament, to clarify the scope of the information to be exchanged in case of loopholes and reinforces the personal data protection provisions. Rapporteur: Magdalena ALVAREZ (S&D, ES)
Carousel VAT fraud
Carousel VAT fraud is one of the most serious forms of tax fraud connected to cross-border transactions within the EU and is currently depriving Member States of billions of euros in tax revenue. There is evidence that sophisticated fraudsters could be targeting the system of greenhouse emission trading. The Commission proposed to apply the reverse-charge mechanism to the transactions involving emission allowances. The EP's legislative resolution supports the Commission's proposal, whilst introducing amendments aiming at reducing the administrative burden on businesses. Rapporteur: David CASA (EPP, MT)
Assistance in recovery of tax claims
Parliament has expressed a clear support for a proposal that will bring significant improvements helping to substantially increase the rate of cross-border claim recovery throughout the EU. Parliament also asked for an appropriate follow-up system for cases where a Member State refuses the assistance and removes the threshold proposed for exchanging information concerning refunds of taxes. Rapporteur: Theodor Dumitru STOLOJAN (EPP, RO)
Details: http://www.europarl.europa.eu/news/expert/infopress_page/044-68642-039-02-07-907-20100209IPR68641-08-02-2010-2010-false/default_en.htm
http://www.europarl.europa.eu
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