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PES President on Luxembourg leaks: “Europe now more than ever needs equal and redistributive tax systems”

The publication of the findings of the Consortium of the Investigative Journalists regarding the tax evading practices of 343 companies via Luxembourg underlines the need for Europe to take strong political action. The PES has been calling since long for a robust policy to combat tax evasion and tax fraud as well as creating a legal framework for closing down tax havens. Moreover, we have been demanding the introduction of fair corporate tax systems that put an end to unfair tax competition between Member States. Public finances have been put under severe pressure due to the economic and financial crisis. Tax evasion and tax fraud widen the fiscal gap as well as the ability of Member States to mitigate the effects of the crisis and undertake much need investments.

PES President Sergei Stanishev stated: “Every year Europe loses approximately €1 trillion in tax evasion and tax fraud. This funds have to be urgently retrieved and invested in the economy for creating new jobs. An appropriate framework that allows for sanctioning such illicit practices has to be developed immediately. This is a not only a matter of strengthening economic condition, it is a matter of restoring fiscal justice. Europe now more than ever needs equal and redistributive tax systems”.

Mr Stanishev added: “The PES is at the forefront of the fight against tax evasion and fraud and we will continue calling for intensifying the efforts to put an end to these illicit practices. Through our political coordination we have enlarged the scope for automatically exchanging tax related information between Member States. But more needs to be done in order to effectively tackle the issue of aggressive tax planning and the existence of tax havens”.

The call to fight against tax evasion has been a long-standing demanding of our Leaders, Ministers, Presidency, as well as a key demand of the PES election manifesto.

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