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PES Finance Ministers discuss fights against terrorism financing and tax avoidance


12 Feb 2016


Euro & Finance
Justice & Home Affairs

The Party of European Socialists Finance Ministers met today in Brussels prior to the ECOFIN Council. The Ministers discussed two documents recently released by the European Commission - the Anti Tax Avoidance Package and the Action Plan to strengthen the fight against the financing of terrorism. PES Finance Ministers emphasized that tax evasion seriously threatens the sustainability of Member States’ public finances, and that combating aggressive tax planning must be one of the EU’s priorities.

Lithuanian Finance Minister and chair of the network, Rimantas Šadžius, stated: ‘We welcome the Commission’s proposal for new measures against corporate tax avoidance. As progressives we have always strongly advocated for social and tax justice, and the Commission’s Anti Tax Avoidance Package is a step in the right direction. Companies that avoid taxation and engage in aggressive tax planning undermine the basis of the European social and economic model. This practice should be put to an end. We look forward to the revived Commission’s proposal on a Common Consolidated Corporate Tax Base (CCCTB) that could also contribute to strengthening the ability to prevent profit shifting.

On the Action Plan to strengthen the fight against the financing of terrorism, Minister Šadžius explained that: There is a strong agreement in our political family about the urgent need for strong measures to tackle the problem of terrorism financing. The implementation of measures foreseen in the Action Plan presented by the Commission will improve current legislation on money laundering, and will introduce some essential provisions that significantly increase the control over terrorist financing. These measures will improve access to information, tackle illicit trade in goods, increase the scope of due diligence in relation to virtual currencies. This preventive approach sets the correct tone for countering terrorism.’

The meeting was also attended by the following:

Rimantas Šadžius, Finance Minister (Chair), Lithuania

Michel Sapin, Finance Minister, France

Pier Carlo Padoan, Finance Minister, Italy

Edward Scicluna, Finance Minister, Malta

Jeroen Dijsselbloem, Finance Minister, The Netherlands

Mario Centeno, Finance Minister, Portugal

Peter Kazimir, Deputy Prime Minister and Finance Minister, Slovakia

Ivan Lesay, State Secretary at the Ministry of Finance, Slovakia

Magdalena Andersson, Finance Minister, Sweden

Karolina Ekholm, State Secretary at the Ministry of Finance, Sweden

Charlotte Svensson, State Secretary at the Ministry of Finance, Sweden

Pierre Moscovici, Commissioner for Economic Financial Affairs, Taxation and Customs

Maria Joao Rodrigues MEP, Vice President of the S&D Group in the European Parliament

Roberto Gualtieri MEP, Chair of the ECON committee in the European Parliament

Party of European Socialists (PES)