Rules against certain tax avoidance practices


Madam President, I congratulate the Commissioner and the Commission on being in the vanguard of the efforts at global efforts to stop fiscal evasion and aggressive fiscal planning. What I would like to say is that we should be very clear that tackling fiscal evasion and aggressive fiscal planning is not possible without a global financial system and an international fiscal system. This draft directive which we will debate today is a good step in this direction.

I want to draw attention to the Convention on Avoiding Double Taxation. In many cases this kind of bilateral convention has really become a convention on avoiding any taxation. In my country, for instance, an investor sold shares in a big bank and my country could not tax a single euro of capital gain. Why? Because the owner of the shares was a company in Cyprus and in Cyprus capital gains are not taxed. I want to tell you that India has started to renegotiate these kinds of conventions and we have to do the same thing.

 

Link video

https://www.youtube.com/watch?v=tp_pK9lBOGk&feature=youtu.be

min 1:23:38

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  • Theodor Stolojan
  • Theodor Stolojan
  • Theodor Stolojan
  • Theodor Stolojan

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