EIB needs to commit to responsible taxation policy, NGO coalition says

On the second anniversary of the Panama Papers tax scandal, the European coalition of development and environmental non-governmental organisations, Counter Balance, urged the European Investment Bank (EIB) to develop a comprehensive and responsible taxation policy.

To back its claim, Counter Balance published a report on Tuesday (3 April) that contains recommendations which – if implemented, the organisation argued – would allow the EIB to take the lead in responsible taxation.

“Given its central macroeconomic role and its nature of ‘EU body’ and public institution, it is all the more important that the EIB‘s publicly-backed investments and business do not feed the cycle of aggressive tax planning by multinationals but rather grasp the opportunity to push for a new standard of improved transparency and tax-responsible practices.

“An essential step in this direction would be to require Country by Country reporting to all its business clients,“ said Xavier Sol, the director of Counter Balance.

“A responsible

... read more at: https://www.euractiv.com/section/economy-jobs/news/eib-needs-to-commit-to-responsible-taxation-policy-ngo-coalition-says/