Today, the International Consortium of Investigative Journalists published the Mauritius Leaks which reveal how multinational companies, with the help of the law firm Conyers Dill & Pearman and major audit firms, used legal loopholes, dodgy schemes and tax treaty shopping to avoid paying taxes in Africa, Asia, the Middle East and the Americas.
Reacting to the news, Jonás Fernandez, MEP and S&D spokesperson on economic affairs, said:
“It is shameful how Western corporations use dodgy tax schemes to defraud some of the world's poorest countries out of their fair share in tax revenue, money they desperately need to pay for education, health care and infrastructure. Once again, big accountancy companies masterminded the treaty shopping of big corporations at the expense of citizens. Clearly, tougher regulations and better oversight are needed to crack down on tax crimes.
“The Mauritius Leaks prove once again that the European Parliament must continue its in-depth investigations of tax crimes and come up with clear recommendations through a permanent sub-committee on tax. The scandal also proves the EU blacklist of tax havens needs updating, including its criteria. The S&D Group will continue to push the EU Commission and member states to crack down more forcefully on tax crimes.”