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Brussels April 19 2017. Civil Society Organisations are calling on the European Council and Parliament to ensure transparent and accountable regulation of the European Fund for Sustainable Development (EFSD). The fund is part of the European External ...

blog
France passes law to clip vulture funds’ wings

Eurodad

06 Apr 2017 11:29:52

This blog by Tim Jones (Jubilee Debt Campaign) was originally published by Jubilee Debt Campaign Companies prevented from seeking large profits on debts they bought when a government could not pay. France has passed a law to prevent vulture funds or other creditors from seeking large profits on a debt they bought cheaply. The law protects countries in the global South from having their assets seized by creditors who bought debt when they were in, or near default, if the default was less than four years ago, or if two-thirds of holders of the debt have accepted a restructuring. The law only applies to debts bought since the law came into force on 11 December 2016. In 2010 the UK parliament passed a law preventing vulture funds or any other creditor suing one of 40 Heavily Indebted Poor Countries ...

press
Tax campaigners condemn renewed punishment of Luxleaks whistleblowers

Brussels, March 15 2016.  Eurodad (European Network on Debt and Development) has condemned the revised sentences handed down by a court in Luxembourg today [March 15] after the retrial of LuxLeaks whistleblowers Antoine Deltour and Raphaël Halet. Although the new sentences (six months' suspended jail and a €1500 fine for Deltour and a €1000 fine for Halet) are less harsh than those imposed at the first trial, where the former PwC employees were sentenced to twelve and nine months’ suspended ...
The following list of recommendations has been sent to the OECD Development Assistance Committee (DAC) ahead of a meeting on March 9 in which delegates will discuss how to channel aid through the private sector. This briefing has been endorsed by 14 national ...

blog
Information exchange needs to go beyond tax

Eurodad

26 Jan 2017 14:16:42

This blog was originally published by Tax Justice Network How to improve the Automatic Exchange of Information Automatic exchange of information (AEOI) is one of the hottest topics in the fight against tax evasion. The idea is that tax authorities will automatically exchange information about tax payers with financial assets in their jurisdictions. So, if someone from Spain has a bank account in the Cayman Islands, the Cayman Island authorities will, if many conditions are met, automatically inform the Spanish tax authorities.  We have generally welcomed this development, but we have also warned about many loopholes, especially those which prevent access to information by developing countries. For this reason, TJN sent a survey to more than 100 jurisdictions asking their views about how ...

press
Sharp rise in secret ‘sweetheart' tax deals with multinational corporations exposed in new report

New report analyses developments across Europe and finds: Since the LuxLeaks scandal, the amount of secret ‘sweetheart deals’ between multinational corporations and European governments has increased by almost 50% Mapping of government positions show political support for transparency has grown, but challenges remainEuropean governments continue to sign controversial tax treaties that undermine taxation in developing countriesAmong the 18 countries analysed in the report, not a single government ...

press
Despite Panama Papers, EU Member States reject transparency

20 December 2016 In response to the Panama Papers, the European Commission has suggested a crackdown on shell companies by creating transparency around the true owners of companies. But today, EU Member States agreed on a negotiating mandate where they reject this idea, and instead opt to keep the status quo. Currently, the EU only requires Member States to grant citizens access to information about company ownership if they can demonstrate a ‘legitimate interest’ in the information. Tove Maria ...