The EPP-ED Group stands firmly behind the proposal to make the taxation on cross-border savings income more effective and inclusive. ”The problem with the existing Directive is that it has been rather easy to circumvent. In including new products resembling interest payments, and enlarging the obligation to pay savings tax to all legal entities, the circumvention is made more difficult”, said EPP-ED Spokeswoman on the issue, Sirpa Pietikäinen MEP.
The majority of EPP-ED Members in the Committee of Economic and Monetary Affairs (ECON) backed the proposal to include in the Directive a definite deadline of 2014 to move from the existing two systems into one. By then, the three Member States remaining outside the exchange of information system would be brought in as well. ”Effective transparency, cooperation between the tax authorities, and relaxation of banking secrecy rules are all of the utmost importance in re-creating trust in the whole sector”, EPP-ED Spokesman in the ECON Committee, Jean-Paul Gauzès MEP, stressed.
Fighting fiscal fraud and tax evasion through increased transparency and cooperation on a global scale is an important component of larger international effort to renew the global financial architecture. The EPP-ED Group firmly supports the ongoing effort that culminated in the G20 meeting to reshape the international financial systems, and to fight tax havens.
For further information:
Sirpa PIETIKÄINEN MEP, Tel: +32-2-2845264
Jean-Paul GAUZÈS MEP, Tel: +32-2-2847700
Antti Timonen , EPP-ED Press Service, Tel: +32-474-851831
Marion Jeanne , EPP-ED Press Service, Tel: +32-479-840293
Notes to Editors:
The EPP-ED Group is the largest political group in the European Parliament with 288 Members from all 27 Member States.