Marek Siwiec MEP on Poland & Europe

End of tax fraud

The Plenary Session in Strasbourg is being characterized by taxes, more precisely by the collection of taxes. It is estimated that the EU countries are losing approximately one trillion euro as a result of tax fraud and tax haven operations. As this number might be difficult to imagine, I can say it’s comparable to the amount that the EU spends each year on health care.

The number is staggering, but the percentages make an even greater impression. The experts chosen by the S&D have proved that this way, Estonia is losing 28% of its government spending. Estonia is small, but for example Italy is much larger and it is being estimated that the country is losing about 180 billion euro annually.

If we do not want to sit back and do nothing, we need to change the accounting system and general automatic information about transfers of money. Dark clouds are gathering over the tax havens, which after all do not exist in isolation, and are subject to the jurisdiction of the Member States.

This topic will also be addressed by the European Council tomorrow, which will be discussing the plan to fight tax fraud. It is expected that discussions will begin very soon with Andorra, San Marino, Liechtenstein, Monaco and Switzerland.

This whole issue has been known for a long time, but the discussion was speed up by the story over secret bank data, bought out by the German secret service from the bank in Liechtenstein. It turns out that thousands of wealthy Germans avoided paying taxes through these institutions. Apparently, the Germans received a hundred times more than the investment in buying the data cost…

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  1. And many of the companies that do not pay their taxes include:-

    The Banks (major as well as minor ones.)

    Stock-Market Employees who register themselves as Private Limited Companies overseas and then live outside their countries of operations for the customary 6 months a year in luxurious villas in Geneva and Lucerne or Cannes and elsewhere returning to work in their offices daily by flights to places like London City Airport and the likes.

    The major Oil and Fuel Companies allegedly disbursing their earnings through loss-making and deviously contrived shadow companies on top of shadow companies housed in obscure places like San Marino and Svaalbad and Biarritz and off-shore Islands around the Danish coastline.

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