EURACTIV PR

An easy way of publishing your relevant EU press releases.

Shameless obstructionism on banking transparency must be overcome

Date

15 May 2013

Sections

EU Priorities 2020
Euro & Finance
Tax evasion

EU finance ministers today failed to agree on ending loopholes in the EU savings directive, under which Luxembourg and Austria are exempted from provisions on automatic information exchange, due to continued opposition from those two countries. The Greens hit out at the continued obstruction by Luxembourg and Austria to this key measure aimed at ensuring banking transparency, with a view to tackling tax avoidance. Commenting on the outcome, Green economic and finance spokesperson Sven Giegold said:

"The shameless obstructionism by Luxembourg and Austria, which are continuing to block efforts to ensure proper transparency of bank accounts as part of EU action against tax avoidance, must be overcome. If these two member states refuse to get out of the way of efforts to tackle tax avoidance in Europe, they must be bypassed. EU heads of state and government must take decisive action to this end at next week's summit.

"The international debate has shifted in the aftermath of the FACTA revelations in the US. With growing pressure, both from the public and from the US, to tackle tax avoidance, the EU cannot continue to sit on its hands. We need a European FACTA as part of moves to ensure transparency and fairness in taxation. This implies complete transparency of asset ownership and an end to the chicanery of hiding assets behind investment vehicles and funds, with a view to avoiding tax. To this end, the announcement by EU taxation commissioner Semeta that he intends to present proposals on the automatic exchange of information on capital income (such as dividends and capital gains) is welcome."

 
Richard More O'Ferrall,
Press and media officer, Greens/EFA group in the European Parliament,
Ph. +32 477443842

 

Jobs

Forum CTEP GmbH
Debate Editor (f/m/d)
Intercultural Dialogue Platform
Videography & Media Intern (Paid Internship)
Intercultural Dialogue Platform
Social Media & Graphics Intern (Paid Internship)
CENTRE TECNOLÒGIC DE TELECOMUNICACIONS DE CATALUNYA - CTTC
Researcher position in Communication Technologies Division - SMARTECH Department
One Policy Place (OPP)
Policy Analyst - EU Finance Policy
INEA - Innovation and Networks Executive Agency
PROJECT OFFICER Horizon 2020 Research and Innovation - Transport
Eastern and Midland Regional Assembly
EU support officer
European Venture Philanthropy Association (EVPA)
Marketing and Communications Intern
Forum CTEP GmbH
Community Manager (m/f/d)