Procedure : 2018/2900(RSP)
Document stages in plenary
Document selected : B8-0551/2018

Texts tabled :

B8-0551/2018

Debates :

Votes :

PV 29/11/2018 - 8.10

Texts adopted :

P8_TA(2018)0475

MOTION FOR A RESOLUTION
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See also joint motion for a resolution RC-B8-0551/2018
27.11.2018
PE631.544v01-00
 
B8-0551/2018

to wind up the debate on the statements by the Council and the Commission

pursuant to Rule 123(2) of the Rules of Procedure


on the cum-ex scandal: financial crime and the loopholes in the current legal framework (2018/2900(RSP))


Markus Ferber, Dariusz Rosati on behalf of the PPE Group
Nils Torvalds on behalf of the ALDE Group

European Parliament resolution on the cum-ex scandal: financial crime and the loopholes in the current legal framework (2018/2900(RSP))  
B8‑0551/2018

The European Parliament,

–  having regard to Council Directive 2014/107/EU of 9 December 2014 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation(1) (DAC2),

–  having regard to Council Directive (EU) 2018/822 of 25 May 2018 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements(2) (DAC6),

–  having regard to Rule 123(2) of its Rules of Procedure,

A.  whereas ‘cum-ex’ refers to the practice of trading shares in such a way as to conceal the identity of the actual owner and to enable both parties involved to claim tax rebates on capital gains tax that had only been paid once;

B.  whereas the cum-ex scandal was revealed to the public through a collaborative investigation between a number of European news media outlets involving 12 countries and 38 reporters;

C.  whereas it is reported that 11 Member States have lost up to EUR 55.2 billion in tax revenue as a result of the scheme;

D.  whereas cum-ex schemes bear some of the hallmarks of tax fraud, but present no clear evidence of a breach of either national or EU law;

E.  whereas as of September 2017, the second Directive on Administrative Cooperation (DAC2) requires EU Member States to obtain information from their financial institutions and to exchange it with the Member State of residence of taxpayers on an annual basis;

F.  whereas the sixth Directive on Administrative Cooperation (DAC6) requires any person that designs, markets, organises, makes available for implementation or manages the implementation of a reportable cross-border arrangement which meets pre-defined hallmarks to report those arrangements to national tax authorities;

G.  whereas the mandate of the Special Committee on Financial Crimes, Tax Evasion and Tax Avoidance (TAX3) explicitly covers any relevant developments within the remit of the committee that emerge during its term;

1.  Is deeply concerned about publicly reported losses to Member States’ tax revenue, amounting to as much as EUR 55.2 billion according to some media estimates, which are a blow to the European social market economy;

2.  Calls on the relevant national and EU institutions to investigate whether a breach of either national or EU law can be established;

3.  Underlines the fact that these revelations do not affect the stability of the EU’s financial system;

4.  Calls on the Member States to effectively implement the mandatory automatic exchange of information in the field of taxation;

5.  Calls on national tax authorities to reap the full potential of DAC6 with regard to the mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements;

6.  Calls on the TAX3 Special Committee to conduct its own assessment of the cum-ex revelations and to include the results and any relevant recommendations in its final report;

7.  Instructs its President to forward this resolution to the Council and the Commission.

 

(1)

OJ L 359, 16.12.2014, p. 1.

(2)

OJ L 139, 5.6.2018, p. 1.

Last updated: 27 November 2018Legal notice