Aasian time where most of the leaders of the Western countries rival superlatives to declare that with the crisis financial "the era of banking secrecy is gone," and should "change the system", the European Parliament, is, in practical work.
It is estimated each year the total amount of tax fraud in the European Union to 200 billion euros. Reported to the budget of the Union in 2008 (133 billion euros) or the amounts cumulated deficits in the European Union, we understand how much the loss of these sums affects the Member States. Indeed, the addition of the European stimulus plans approach 1.5 of the GDP of the Union, there where evasion stood at 2 of GDP. The massive injection of public money to save the banking system motivates therefore States to claim of strong counterparties to European banks to recover tax revenue that bank secrecy lets them escape. This background explains that I found a majority in the European Parliament to support an ambitious policy of fight against fraud and tax evasion, the scope of which exceeds the revision of the single"savings."
My report proposes to the European Union to take a decisive step in three areas.
The first is to bring a direct hit to the bank secrecy by the 2014 repeal of the withholding system still applied by the Luxembourg, the Austria and the Belgium. In 2008, the France received from bank secrecy countries EUR 64 million in respect of the taxes due on the interests of savings. 38 million from the Switzerland and 13 from Luxembourg, main European destination of French residents for their investments in savings. Who are How many are How to check the accuracy of the amounts collected. This escape at Bercy as counterparts of 24 of the 27 Member States whose nationals place all or part of their savings in the countries of the Union with bank secrecy. European parliamentarians have therefore decided that the system of automatic exchange of information applies to all States. The commitment of Europe to abrogate bank secrecy by 2014 is also a pragmatic choice that puts the Union in a position of strength in future negotiations with the Switzerland and all third countries hosting today billions of tax evasion.
The second acquired from this text deals with the scope of the directive. Tax fraud is most of the time per person interposed morality. The scope of the directive has been extended to the foundations and trusts behind which hide of individuals seeking to escape the tax. This practice featuring a multitude of dummy foundations in reality with German taxpayers or unscrupulous French was illustrated by the case of the Liechtenstein. Beyond the question of the legal media fraud, the definition of financial products which fall within the scope of the directive was also the subject of bitter debate. Financial engineering is without limit as it is to invent new products that allow including to evade tax. This is why this report proposes that the Commission may adapt the definition of savings products to the evolution of the market in this area by "comitology".
The third basis of this text is not the least. Europe establishes a list unprecedented tax havens or structures and offshore centres and suspicious legal entities. Unlike the list of g-20, the Parliament European including entered in its list the U.S. States of Delaware and Nevada. But the contribution of Parliament is mainly by additional constraints we impose tax havens. Where the Commission proposed a list limited to territories and entities, the Parliament reversed the burden of proof. It imposes on these courts show that all suspicious corporations are fiscally transparent. Thus the European Union to acquire a powerful instrument to combat tax fraud which refers to tax havens care to demonstrate their compliance with the requirements of the Union on fiscal transparency.
The Parliament took its responsibilities. The ball is now in the camp of the European Council. A minority socialist MP in Europe obtained the commitment of the European Parliament for the repeal of bank secrecy by 2014. There is no doubt that a head of State conservative majority in Europe will be able to obtain the same result of the Council.
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