Current Affairs

The Greens want EU regulations against tax evasion

As Malta takes over the Presidency, the Green party at the European Parliament has called on Malta to do everything it can for new regulations to be put into place against tax evasion at European and national level. The Greens are saying that this should be done primarily in the interest of European citizens and not  in the interest of multi-national companies to help them evade tax.

The report by the Greens, which was published in Malta by Alternattiva Demokratika, examined among other things the tax system of Maltese companies and concluded that as a result, between 2012 and 2015, multinational companies which operate in Malta, under Maltese law, evaded around €14 billion in taxes which were supposed to be paid in other countries.

The 32-page report makes reference to Swiss Leaks, LuxLeaks and the Panama Papers and says that these continue to increase the need for the EU to be more determined in its fight against tax evasion. The Greens said that the proposals which were drawn up last December are not good enough and he urged the Maltese Presidency not to give into pressure by countries such as the UK and the Netherlands, while insisting that measures against tax evasion should apply to all sectors, including the financial services sector.