Combat tax fraud, tax avoidance and money laundering

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Key points:

The EESC

  • proposes launching a European pact to effectively combat tax fraud, evasion and avoidance and money laundering;
  • urges the European institutions and the Member States to provide the financial and human resources required for the effective implementation of existing European legislation;
  • finds that eradicating criminal activity by tax havens should be a priority for the EU;
  • supports the new Anti-Money Laundering/Terrorist Financing action plan, that should be implemented as a matter of urgency, including the creation of a European supervisory body with direct responsibility for monitoring and investigating obliged entities from all areas;
  • calls on the European Commission to assess the current list of non-cooperative jurisdictions and to consider the possibility of establishing additional criteria;
  • welcomes the introduction of tax indicators into the European Semester;
  • calls for the progressive abolition of the schemes set up in certain Member States for citizenship or residence in exchange for investment;
  • supports a global solution on the corporate taxation of companies with a significant digital presence under the aegis of the OECD's work, but if a solution is not reached by the end of 2020, the EU should resume its initiative for taxing large digitalised companies;
  • finds that the Anti Tax Avoidance Directive should be revised to include rules on tax treatment in relation to low-tax jurisdictions and on the repatriation of dividends or capital gains that have not been taxed abroad;
  • calls on the Commission to carry out a study on the role of "letterbox companies" in tax fraud, evasion and avoidance as well as money laundering and react to findings with appropriate legislation;
  • calls on the Commission and the Member States to explore the concept of minimum effective taxation of corporate profits, and its possible application;
  • proposes that EU trade or economic agreements include, in keeping with WTO principles and rules, a chapter containing clauses against tax offences, money laundering and aggressive tax planning and for cooperation between tax authorities.

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Slideshow used by DG FISMA at the study group meeting ECO/510 on 8 June 2020