Sinn Fein MEP Carthy Slams EU Tax Rights’ Abuses in Developing Nations – Report

The report was announced in Brussels during a TAX3 special committee hearing on financial crime, tax evasion and tax avoidance. 

Sinn Féin MEP Matt Carthy commissioned the report alongside other MEPs affiliated with European United Left group, with research conducted by London School of Economics fellow Martin Hearson.  

“Tax avoidance is often facilitated by bilateral tax treaties,” MEP Carthy stated, adding that the treaties often reduce taxing rights which plummet revenues in developing nations.  

He stated that the report “analyses why the vast majority of double tax treaties are biased in favor of the EU member states whilst depriving developing countries of their taxing rights and much-needed revenue.” 

Carthy added that tax treaties placed unnecessary focus on “the taxing rights of the countries of residence of multinational companies” and imposed excessive restrictions on the countries generating the companies’ income. 

“The EU’s stated desire to alleviate poverty in developing countries is undermined by unfair tax treaties, which usually favour EU member states — directly contravening Article 208 of the EU treaty,” Carthy asserted. 

READ MORE: Can Pay, Won’t Pay: Tax Evasion, Profit Shifting Rife in Central,

... read more at: https://sputniknews.com/europe/201809271068395438-sinn-fein-report-taxes/

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