These European countries are refusing to offer bailouts to companies linked to offshore tax havens

To date, France, Poland, Belgium and Denmark have all announced similar measures designed to exclude some companies from taxpayer-funded relief programs.

An aerial photo of the famous Nyhavn tourist area with empty streets during the coronavirus precautions in Copenhagen, Denmark on April 1, 2020.Some European countries have decided to block businesses linked to offshore tax havens from receiving government-backed coronavirus bailouts. The pandemic has forced world leaders to quickly deploy emergency financial measures and aggressive stimulus packages in an effort to avoid a devastating economic collapse.Earlier this month, Belgium became the fourth European Union country to introduce legislation that prevents pandemic relief measures to companies with a presence in tax havens.

None of the countries on the list are members of the EU, since the bloc claims all member states are fully compliant and held to a higher level of scrutiny than other countries across the globe. "This means they cannot exclude companies from aid schemes on the basis of headquarters or tax residency in a different EU country," they added.Alex Cobham, chief executive of the Tax Justice Network, which tracks corporate tax avoidance, believes the coronavirus pandemic "has exposed the grave costs of an international tax system programmed to prioritize the interest of corporate giants over the needs of people.

The wealth in tax havens is equivalent to more than ten percent of the global Gross Domestic Product. The OECD estimates that tax evasion robs world governments of US$100-240 billion in taxes.

1. Taxes should be paid where performance (produce, work, sale, profit, revenue etc) comes from. 2. Global companies should pay as much tax (in %) in a country as much local small and medium-sized companies. Fair and competitive-neutral tax system is essential.

If it were here the Democraps would be up in arms

thank heavens they're smarter than the idiots running the USA response.

He can go to jail. I dont give...?

Good for them.

Who does other

Good and smart

Backfire hahahahaha

good

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La source: YahooNews - 🏆 380. / 59 Lire la suite »

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La source: Reuters - 🏆 2. / 97 Lire la suite »