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"The current system of corporate tax rules is unfit for purpose and unjust. Some companies are losing out, whereas others win by hiding behind a variety of national rules", Commission President Jean Claude Juncker told MEPs at a joint meeting of the committees for Tax Rulings and for Economic and Monetary Affairs on Thursday. "We need a better insight into how multinational companies behave and how they make use of the differences between countries. Then we should create some order!", he added.

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Following today's Commission proposals for an EU wide response to corporate tax avoidance and to fight aggressive tax practices by large companies, chairman of Parliament's Special Committee on Tax Rulings Alain Lamassoure (EPP, FR), the chairman of the Economic and Monetary Affairs committee, Roberto Gualtieri (S&D, IT) and the two co-rapporteurs in the field of corporate taxation Anneliese Dodds (S&D, UK) and Luděk Niedermayer (EPP, CZ) gave the following statements:

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The EU Commission is asked to table measures to improve corporate tax transparency, coordination and EU-wide policy convergence in legislative recommendations voted by the Economic and Monetary Affairs Committee on Tuesday. These recommendations build on the work of Parliament’s Special Committee on Tax Rulings, set up in the wake of the “Luxleaks” revelations, whose recommendations were approved at the 26 November plenary session.

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The European Commission's proposal for automatic exchange of corporate tax information among national tax authorities was welcomed by Economic and Monetary Affairs Committee MEPs on Tuesday as a positive step in the fight against aggressive corporate tax planning. But MEPs also advocated adding further safeguards in the text to ensure that competition in the single market is not distorted by advantageous national tax deals with multinationals.

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Parliament should have a bigger role in supervising the operations of the new European Fund for Strategic Investment (EFSI), in selecting its top officials and in the decisions on how to feed the guarantee fund, says the draft report by the budgets and the economic and monetary affairs committees, presented and discussed on Thursday in Strasbourg.

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All of the EP’s 20 standing committees and two subcommittees held their constitutive meetings on Wednesday to elect their chair and vice-chairs.

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Ministers are outlining the priorities of the German Presidency of the Council of the EU to parliamentary committees, in a series of meetings.

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The European Stability Mechanism's current legal setup would not allow it to become a "backstop" lender to a newly-created EU bank resolution fund, ESM Managing Director Klaus Regling told Economic and Monetary Affairs Committee MEPs on Tuesday. Pressed repeatedly on the matter, Mr Regling did however concede that he was open to considering other possible legal interpretations which could justify this role for the ESM.

       
 

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