Three key measures to fight tax evasion by multinationals 


One trillion euro is taken from the hands of citizens each year as a result of tax avoidance. That’s Euro 2000 per citizen. A large sum of money that won’t be invested in social security, education, job development or security.

  • Each year, $250 billion is hidden in tax heavens
  • Italy is the biggest tax loser with an annual Euro 180 billion loss. Estonia loses more than 28% of its government spending due to tax evasion each year.
  • A global financial transactions tax of 0.05%, with an additional fiscal stimulus of 1%, could help create 2 to 3 million jobs in Europe alone
  • 30% of all African wealth is belived to be held offshore, an estimated $14 bilion in lost tax revenues every year – enough to save the lives of up to 4 million children a year and get every African child into school

For that reason, MEP Hugues Bayet and the Socialists & Democrats in the European Parliament propose three key measures to the Commission and the member states, in order to fight against tax evasion by multinationals.

Source: EurActiv – Three key measures to fight tax evasion by multinationals

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