May 13, 2016 10:43 am
Since the start of the economic and financial crisis in 2007, the fight for fair taxation in the EU has been high up on the European Parliament’s agenda to end unfair tax practices and boost EU-wide coordination. Scandals revealed by the “Panama Papers” and the “Luxleaks” disclosures have sparked a global uproar and prompted widespread calls for a crackdown on tax evasion.
According to the European Commissioner for taxation, Pierre Moscovici, the EU has “a duty” to stop the kind of tax avoidance unveiled in the course of the Panama Papers scandal and take action on corporate tax-dodging.
In the light of these events, this week’s IATE term is “tax transparency“, which has heated up the debate around tax rulings systems within the EU. On May 12th MEPs voted in favour of the European Commission’s proposal for automatic exchange of corporate tax reports among national tax authorities and its role as “state aid watchdog”.
The term “tax transparency” refers to “cooperation and exchange of information between countries for tax purposes as a means of enforcing domestic tax laws and combating tax evasion.
In the draft resolution, prepared by Dariusz Rosati (EPP, PL), MEPs approve the corporate tax planning and ask member states to introduce sanctions to be imposed on multinational corporations that fail to comply with reporting obligations.
The Commission will now have full access to the information exchanged among member states’ tax authorities, to enable it to assess whether member states’ tax practices comply with EU rules on state aid.
Here you can check the European Parliament´s work on taxation being done so far, MEPs statements and some useful resources regarding tax terminology (OECD Glossary of Tax Terms, Tax Terminology Glossary, European Parliament Taxing Vocabulary). Furthermore, if you are willing to investigate the evolution of the word “transparency” itself, a diachronic research study (1970 – 2012) has been conducted with reference to the Pentagon Papers and Wikileaks disclosures, to provide an overview of how language, journalism and society are closely intertwined and evolve together.
- Press release on European Parliament vote on Corporate taxation (12.05.2016)
- European Parliament Top story on Corporate taxation
- Draft resolution tabled by Dariusz Rosati for Plenary Session
- Financial Times
- The Guardian
Written by Jessica Mariani
Study Visitor at TermCoord
PhD Candidate in English Language and Translation, University of Verona
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