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112 • Fifty Shades of Tax Dodging 242. Ibid. fairer_corporate_taxation/com_2015_302_en.pdf 243. According to the Financial Secrecy Index, “Liberia accounts for less than 1 per cent of the global market for offshore financial services, making it a tiny player compared with other secrecy jurisdictions”. See Tax Justice Network. (2013). Financial Secrecy Index – Narrative report on Liberia. Accessed 30 August 2015: http://www. financialsecrecyindex.com/PDF/Liberia.pdf 244. The Guardian. (2015). Tax haven blacklist omits Luxembourg as Brussels announces reform plans. Published 17 June 2015. Accessed 28 August 2015: http://www.theguardian.com/world/2015/jun/17/ luxembourg-tax-haven-blacklist-brussels-european-commission. The jurisdictions on the list are: Andorra, Anguilla, Antigua and Barbuda, Bahamas, Barbados, Belize, Bermuda, British Virgin Islands, Brunei, Cayman Islands, Grenada, Guernsey, Hong Kong, Liberia, Liechtenstein, Maldives, Marshall Islands, Mauritius, Monaco, Montserrat, Nauru, Niue, Panama, Saint Kittis and Nevis, Saint Vincent and the Grenadines, Seychelles, Turks and Caicos Islands, US Virgin Islands, Vanatu. 245. European Commission. (2015). A study on R&D tax incentives. Taxation Papers, Working Paper N. 52, p.22 & 46, Accessed 28 August 2015: http://ec.europa.eu/taxation_customs/resources/documents/taxation/ gen_info/economic_analysis/tax_papers/taxation_paper_52.pdf 246. King & Wood Mallesons. (2015). EU ends patent box scrutiny. Published 16 February 2015. Accessed 30 August 2015: http://www.kwm.com/en/ uk/knowledge/insights/eu-ends-patent-box-scrutiny-20150216# 247. European Commission. (2015). A fair and efficient corporate tax system in the European Union: 5 key areas for action. SWD(2015) 121, p.10. Published 17 June 2015. Accessed 28 August 2015: http://ec.europa. eu/taxation_customs/resources/documents/taxation/company_tax/ fairer_corporate_taxation/com_2015_302_en.pdf 248. Alex Cobham. (2015). Will the patent box break BEPS? Published 20 July 2015. Accessed 28 August 2015: http://uncounted.org/2015/07/20/ will-the-patent-box-break-beps/ 249. European Commission. (2015). Proposal for a Council Directive amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation”, SWD(2015) 60 final. Accessed 28 August 2015: http://ec.europa.eu/taxation_customs/ resources/documents/taxation/company_tax/transparency/ com_2015_135_en.pdf 250. European Commission. (2007). Communication from the Commission to the Council, the European Parliament and the European Economic and Social Committee on the work of the EU Joint Transfer Pricing Forum in the field of dispute avoidance and the resolution procedures and on guidelines for advance pricing agreements within the EU”, COM(2007) 71. Accessed 28 August 2015: http://ec.europa.eu/ taxation_customs/resources/documents/taxation/company_tax/ transfer_pricing/com(2007)71_en.pdf 251. Eurodad. (2015). Getting the EU response to the tax dodging scandal right. Published 27 March 2015. Accessed 28 August 2015: http:// www.eurodad.org/Entries/view/1546370/2015/03/27/Getting-the-EUresponse-to-the-tax-dodging-scandal-right 252. Ibid. For a similar critique of the Commission’s expert group on the automatic exchange of financial information see Corporate Europe Observatory. (2015). Commission continues to ask tax offenders for advise on tax regulation. Published 29 April 2015. Accessed 28 August 2015: http://corporateeurope.org/expert-groups/2015/04/commissioncontinues-ask-tax-offenders-advice-tax-regulation 253. These groups are: Eurodad, the Financial Transparency Coalition and the BEPS Monitoring Group. See Corporate Europe Observatory. (2015). Groundhog day: Commission asks tax dodgers for tax advise (again). Published 25 June 2015. Accessed 28 August 2015: http:// corporateeurope.org/expert-groups/2015/06/groundhog-daycommission-asks-tax-dodgers-tax-advice-again 254. European Ombudsman. (2015). Ombudsman: How to make the Commission’s expert groups more balanced and transparent. Press release dated 30 January 2015. Accessed 28 August 2015: http:// www.ombudsman.europa.eu/en/press/release.faces/en/58870/html. bookmark 255. European Commission. (2015) Technical analysis of focus and scope of the legal proposal accompanying the document Proposal for a Council Directive amending Directive 2011/16/EU as regards exchange of information in the field of taxation, COM(2015) 135, p.15-16: http:// ec.europa.eu/taxation_customs/resources/documents/taxation/ company_tax/transparency/swd_2015_60.pdf 256. Eurodad. (2015). European Commission’s Tax Transparency Package keeps tax deals secret. Press release dated 18 March 2015: http:// www.eurodad.org/Entries/view/1546360/2015/03/17/European- Commission-s-Tax-Transparency-Package-keeps-tax-deals-secret 257. European Commission. (2015). Communication from the Commission to the European Parliament and the Council on tax transparency to fight tax evasion and avoidance, COM(2015) 136, p.5: http://ec.europa. eu/taxation_customs/resources/documents/taxation/company_tax/ transparency/com_2015_136_en.pdf 258. European Commission. (2015). A fair and efficient corporate tax system in the European Union: 5 key areas for action, SWD(2015) 121, p.13. Published 17 June 2015. Accessed 28 August 2015: http://ec.europa. eu/taxation_customs/resources/documents/taxation/company_tax/ fairer_corporate_taxation/com_2015_302_en.pdf 259. European Commission. (2014). General assessment of economic consequences of country-by-country disclosure requirements set out in Article 89 of Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013, COM(2014) 676, p.9. Accessed 28 August 2015: http://ec.europa.eu/internal_market/company/docs/ modern/141030-cbcr-crd-report_en.pdf 260. Sven Giegold. (2015). EU tax policy Commission continues softly, softly approach to corporate tax avoidance. Published 27 May 2015. Accessed 28 August 2015: http://www.sven-giegold.de/2015/eu-tax-policycommission-continues-softly-softly-approach-to-corporate-taxavoidance/ 261. See Commissioner Věra Jourová’s statements at the European Parliament’s plenary vote on the shareholder’s rights directive (at 16:57) on European Parliament TV. (2015). Long-term shareholder engagement and corporate governance statement. Plenary debate 7 July 2015 in Strasbourg. Accessed 30 August 2015: http://www. europarl.europa.eu/ep-live/en/plenary/video?debate=1436276935760# 262. European Commission. (2015). Commissioner Moscovici’s speech: The future of tax policy: A matter for society as a whole – closing address – ‘the way forward’. Speech delivered 29 May 2015. Accessed 28 August 2015: http://europa.eu/rapid/press-release_SPEECH-15-4900_en.htm 263. European Commission. (2013). Proposal for a directive of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, 2013/0025 (COD), Article 29 & 30. Accessed 28 August 2015: http://eur-lex.europa.eu/legal-content/EN/TXT/ PDF/?uri=CELEX:52013PC0045&from=EN 264. Council of the European Union. (2015). Proposal for a directive of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, 2013/0025(COD), Article 29. Accessed 28 August 2015: http:// www.europarl.europa.eu/meetdocs/2014_2019/documents/cj12/dv/ draft_compromisetext_20150112_/draft_compromisetext_20150112_ en.pdf 265. Austria was the only major exception to this agreement, as it insisted on a different timeline than other EU Member States, which would only see it exchanging information from 2018 instead of 2017. See Council of the European Union. (2014). Combatting tax evasion: Council agrees to extend automatic exchange of information. Press release dated 14 October 2014. Accessed 28 August 2015: http://www.consilium.europa. eu/uedocs/cms_data/docs/pressdata/en/ecofin/145103.pdf 266. Council of the European Union. (2015). EU-Switzerland taxation agreement signed in joint effort to improve tax compliance. Press release dated 27 May 2015. Accessed 28 August 2015: http://www. consilium.europa.eu/en/press/press-releases/2015/05/27-eu-
Fifty Shades of Tax Dodging • 113 switzerland-taxation-agreement/ 267. See European Commission. (2015). First report of the commission AEFI expert group on the implementation of Directive 2014/107/EU for the automatic exchange of financial account information, p.21. Accessed 28 August 2015: http://ec.europa.eu/taxation_customs/resources/ documents/taxation/tax_cooperation/mutual_assistance/financial_ account/first_report_expert_group_automatic_exchange_financial_ information.pdf; Financial Transparency Coalition. (2015). The world can’t afford to exclude developing countries from new anti-tax evasion system. Press release dated 16 March 2015. Accessed 28 August 2015: http://financialtransparency.org/news/the-world-cant-afford-toexclude-developing-countries-from-new-anti-tax-evasion-system/ 268. These were Belgium, the Netherlands, Ireland, UK, Malta, Cyprus, and Luxembourg. See European Commission. (2015). Response to the TAXE committee from Margrethe Vestager, DG Competition. Letter dated 29 April 2015. Accessed 27 August 2015, p. 9: http://www.sven-giegold. de/wp-content/uploads/2015/03/Reply-from-Commissioner-Vestager. pdf 269. Ibid. 270. Ibid. The cases concern tax rulings granted to companies in Luxembourg, Netherlands and Ireland, as well as a general investigation into the tax ruling system in Gibraltar and to the so-called ‘excess profit ruling system’ in Belgium. 271. The Parliament Magazine. (2015). Competition Commissioner warns MEPs of state aid investigation delay. Published 5 May 2015. Accessed 27 August 2015: https://www.theparliamentmagazine.eu/ articles/news/competition-commissioner-warns-meps-state-aidinvestigation-delay 272. This is according to Sven Giegold. (2015). EU regards Amazon-Deal as illegal state aid: breakthrough against tax dumping in Europe. Published 16 January 2015. Accessed 27 August 2015: http://www. sven-giegold.de/2015/amazon-deal-illegal-state-aid-breakthroughagainst-tax-dumping/. According to the same article, there are 20 civil servants who, in a broader sense, work on the investigations. 273. The Parliament Magazine. (2015). Competition commissioner warns MEPs of state aid investigation delay. Published 5 May 2015. Accessed 27 August 2015: https://www.theparliamentmagazine.eu/ articles/news/competition-commissioner-warns-meps-state-aidinvestigation-delay 274. Ibid. 275. Ibid., Annex: “Overview State Aid cases concerning tax rulings and other measures similar in nature or effect since 01.01.1991”, p.10-21. 276. Ibid. 277. See Eurodad. (2015). Disappointment as European Commission fails to address tax dodging. Press release dated 17 June 2015. Accessed 27 August 2015: http://eurodad.org/Entries/view/1546429/2015/06/17/ Disappointment-as-European-Commission-fails-to-address-taxdodging; Tax Justice Network. (2015). European Commission half measures will exacerbate profit shifting. Press release dated 17 June 2015. Accessed 28 August 2015: http://www.taxjustice.net/2015/06/17/ european-commission-half-measures-will-exacerbate-profit-shifting/ 278. European Commission. (2015). Communication: A global partnership for poverty eradication and sustainable development after 2015. Published 5 February 2015. Accessed 28 August 2015: http:// ec.europa.eu/europeaid/communication-global-partnership-povertyeradication-and-sustainable-development-after-2015_en 279. Council of the European Union. (2015). A new global partnership for poverty eradication and sustainable development after 2015. Accessed 28 August 2015: http://data.consilium.europa.eu/doc/document/ST- 9241-2015-INIT/en/pdf 280. French Ministry of Finance. (2014). Letter to Commissioner Pierre Moscovici, dated 28 November 2014. Accessed 28 August 2015: http://www.economie.gouv.fr/files/files/PDF/letter-to-p_ moscovici-11282014.pdf 281. European Commission. (2015). Technical analysis of focus and scope of the legal proposal accompanying the document Proposal for a Council Directive amending Directive 2011/16/EU as regards exchange of information in the field of taxation, COM(2015) 135, p.5 & 18: http:// ec.europa.eu/taxation_customs/resources/documents/taxation/ company_tax/transparency/swd_2015_60.pdf 282. De Standaard. (2014). Van Overtveldt wil ’Belgische belastingdeals’ niet opgeven. Published 13 December 2014: http://www.standaard.be/ cnt/dmf20141211_01425194 283. In Belgium these stories were extensively covered by MO* Magazine. See for instance: Mo* Magazine. (2014). Dossier #LuxLeaks: http:// www.mo.be/dossiers/luxembourg-leaks and Mo* Magazine. (2014). Dossier #SwissLeaks: http://www.mo.be/dossiers/swissleaks 284. Involved companies include de Spoelberch family (owner of AB Inbev brewing company), telecommunications operator Belgacom, Wittouck and Ullens de Schhoten families (owners of Weightwatchers), industrial holding company Groupe Bruxelles Lambert, private banker Bank Degroof, brewing group Unibra and employment agency Accent Jobs for People. See Clerix, Kristof. (2014). Documentenlek onthult Luxemburgse belastingdeals van Belgische bedrijven. MO*Magazine. Published 5 November 2014: http://www.mo.be/nieuws/ documentenlek-onthult-geheime-luxemburgse-belastingdeals-vanbelgische-bedrijven 285. Organised by the civic movement ‘Hart boven Hard’/’Tout autre chose’ (Heart above hard/Completely different). See De Standaard. (2015). Duizenden deelnemers trotseren regen en wind in parade Hart boven Hard. Published 29 March 2015: http://www.standaard.be/cnt/ dmf20150329_01603983. Read the movement’s statement (in Dutch only): http://www.hartbovenhard.be/?wpdmdl=2289 286. For a good overview of the changes brought about by the reform see Deloitte. (2015). Tax shift agreement – Detailed overview of measures. Updated 29 July 2015. Accessed 16 September 2015: http://www2. deloitte.com/be/en/pages/tax/articles/Belgium-Tax-Reforms- Deloitte-Belgium-Tax/Tax-Shift-2015-Deloitte-Belgium-Tax.html 287. See for instance this in-depth analysis of Chris Serroyen, head of the Christian trade union’s (ACV) research department: De Redactie. (2015). Deze tax-shift is een misser van formaat. Published 26 July 2015: http://deredactie.be/cm/vrtnieuws/opinieblog/opinie/1.2400613 288. See Belgian Federal Government. (2015). Invest in Belgium: http:// ib.fgov.be/en 289. See Belgian Federal Government. (2015). Invest in Belgium. Corporate income tax: http://ib.fgov.be/en/taxation/02/ 290. See Belgian Federal Government. (2015). Invest in Belgium. R&D measures: http://ib.fgov.be/en/taxation/04/ 291. See Belgian Federal Government. (2015). Invest in Belgium. Corporate income tax, op. cit. 292. Aanslagstelsel dat van toepassing is op de juridische constructies als bedoeld in artikel 2, § 1, 13°, van het Wetboek van de inkomstenbelastingen 1992, http://www.ejustice.just.fgov.be/cgi_loi/ change_lg.pl?language=nl&la=N&table_name=wet&cn=2015081003 293. For a technical assessment of the Cayman Tax, which is basically a particular regime of CFC-rules, see for instance: PwC. (2015). Tax Reform in Belgium 2014/2015: http://www.pwc.be/en/tax-reform/ index.jhtml 294. De Morgen. (2015). Kaaimantaks brengt vier keer meer op. Published 28 March 2015: http://www.demorgen.be/binnenland/kaaimantaksbrengt-vier-keer-meer-op-a2268264/ 295. De Tijd. (2015). De tandeloze kaaimantaks. Published 25 August 2015: http://www.tijd.be/opinie/analyse/De_tandeloze_ kaaimantaks.9667914-2336.art?ckc=1 296. De Standaard. (2015). Rekenhof viseert kaaimantaks en karaattaks. Published 23 May 2015: http://www.standaard.be/cnt/ dmf20150522_01695031 297. Belgische Kamer van Volksvertegenwoordigers. (2014). Testimony of Professor Michel Maus (VUB) in Finance Committee of Belgian Parliament. Dated 26 November 2014: https://www.dekamer.be/doc/ CCRA/pdf/54/ac027.pdf
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