Labour MEPs will vote tomorrow in favour of greater corporate transparency and tougher action on tax dodging - proposals Tory MEPs voted against in committee.
The vote comes as David Cameron hosts an anti-corruption summit in London, with the government claiming to have "led the way on tackling tax evasion and tax avoidance", and established a public registry of company beneficial ownership information and "pushed its G7 and G20 partners to do the same".Read more
Tory MEPs have continually voted against EU laws to tackle tax dodging - will Cameron now make them back action?
Labour MEPs are calling on David Cameron to start making amends for his tax troubles by ensuring his Euro-MPs do not keep voting against EU action to tackle tax avoidance.Read more
Neena Gill MEP grilled RBS's head of tax on the bank's involvement in the Panama Papers tax avoidance scandal.Read more
The European Commission today announced proposals for new laws to tackle tax avoidance and evasion in the EU, which echo the recommendations of Labour MEP’s recent report.
The plans include making more companies report, country-by-country, where they make their profits and where they pay their taxes. Other proposals include applying sanctions to tax havens and companies using them. The new legislation will mean EU countries will need to take a common approach to preventing tax avoidance and tackling tax havens.Read more
Labour MEPs tell EU tax commissioner to take tough action against UK banks that dodge corporation tax
Labour MEPs have called for stronger EU action to tackle tax dodging, particularly by UK banks. Seven of the biggest investment banks operating in London paid just £21 million in corporation tax in 2014, despite revenues of £22 billion in the UK, and profits of £3.7bn.Read more
Neena Gill MEP for the West Midlands has welcomed Commissioner Lord Hill’s proposals for the Capital Markets Union announced this week, which aims to break down the barriers to cross-border flows of investment.Read more
- The European Parliament put Neena Gill MEP’s proposals into law to protect taxpayers against having to bail out corporations if times get tough.
- The new EU financial legislation seeks to stabilise markets and boost economies across Europe through new regulations for Money Market Funds (MMFs).
- This legislation makes MMF funds more transparent, liquid and stable in order to prevent this happening again.