4
Apr
2022
Watch
Urgent need to adopt the minimum tax directive (debate)
Madam President, the left will, of course, support every sense of urgency that exists, and that exists among the citizens, to put an end to the obscene reality that we have some of the largest and most profitable companies in the world paying low taxes or not paying taxes at all. But what we are promised is a tax on multinational companies that will be fair, fairly distributed and effective. And the proposal we have on the table is none of these things. It will not be a tax on multinationals, but a tax on a small part of multinational companies. It will not be effective, because it is full of exclusions, deductions and exceptions. It will not be fair, because it is a much lower rate than that practiced in most countries and for most companies. And it will not be justly distributed, because the developed world has tried to keep to itself the lion's share of the revenue from this new tax. We therefore have a great deal of urgency, but also a great deal to improve on this proposal.