France and Austria sought on Thursday (22 January) to break deadlocked talks with nine other European countries for a financial transaction tax, by proposing that it be applied to cover a wide range of transactions, at low rates, starting next year.
In a joint letter to counterparts from the other countries, the French and Austrian finance ministers also suggested that one of the 11 ministers involved take charge of steering forward negotiations.
At the today’s AGM of the German campaign the director of the tax department in the MoF, Mr. Sell, made a briefing.
Here are the main messages:
The finance ministers of France, Germany and Italy today sent a joint- letter to the EU commissioner for economic and financial affairs and taxation Pierre Moscovici calling for new EU legislation on aggressive tax planning, through base erosion and profit sharing (BEPS) (1).
Commenting on the initiative, Greens/EFA economic and finance spokesperson Sven Giegold stated:
EU Commission president Jean-Claude Juncker just concluded his press conference. Sven Giegold, financial and economic spokesperson for the Greens in the European Parliament, comments:
"The measures Mr. Juncker sketched out against tax avoidance are insufficient. He holds firm to defend tax competition within the EU. It is a step forward that Jean-Claude Juncker makes an effort to establish automatic information exchange on tax rulings and a common basis for corporate taxation, yet it is not ambitious enough. He still ignores country specific tax transparency and minimum tax rates. Tax competition without minimum tax rates and a social market economy do not fit together. A common basis for corporate taxation will not stop the race to the bottom, unless minimum tax rates are implemented.
Th first report of the UN special rapporteur on human rights and extreme poverty:
The report focuses on the importance of social protection floors. This will require to overcome the ambivalence of some international organisations, such as the World Bank, the recognition of social protection as a human rights and better knowledge on the affordability of social protection, even for the poorest countries.
Illicit financial flows are in our judgment the biggest economic impediment to sustainable development. At GFI, we estimate illicit outflows from developing countries at US$950 billion a year. This nearly US$1 trillion a year drains hard currencies, heightens inflation, reduces tax collection, curtails investment, and undermines free trade. It undercuts the foundations of societies, limits poverty alleviation efforts, and complicates security concerns. This is why it is so important that curbing illicit flows becomes a priority within the SDG agenda – it gets at the heart of the systemic causes of poverty and inequality for billions of people around the globe.
Invitation to sign on statement to denounce corporate takeover of Climate Summit
We call upon all fellow social movements, peoples organizations and environmental and climate justice movements to sign on this statement and join us in this call to action.
The UN General Assembly passed a historic resolution to begin treaty negotiations to enact a global bankruptcy process and stop predatory hedge funds.
The resolution passed by a super-majority vote of 124-11 with 41 abstentions. The US voted no along with 10 other countries.
Globally, extreme poverty has been halved in 20 years, and could be virtually wiped out by 2030. But much of the progress that has been made is at risk – not because of natural disasters or new diseases, but because of something far more insidious.