Fundamental change to international tax rules should include abolishment of Citizen Based Taxation | FATCA, financial fundamental rights, Europe

The European Parliament announced: MEPs ready plans for fundamental change to international tax rules.

When discussing outdated international tax rules, the Parliament should include abolishment of Citizen Based Taxation, a illegal and harmful practice of the U.S. that continuously harms European residents that have the nationality of the U.S. (like Accidental Americans). Strong measures are necessary against third countries that harm European citizens with extraterritorial working legislation.

The announcement of the European Parliament:

MEPs ready plans for fundamental change to international tax rules
On Wednesday, MEPs will debate resetting outdated international tax rules, including introducing a minimum effective corporate tax rate.
The debate will conclude with a vote on a resolution, which will clearly set out MEPs’ priorities on these rules, with changes coming at what may be a pivotal moment in the shift towards root and branch reform of global tax policy.
MEPs have long said that international tax rules designed in the early 20th century are wholly inappropriate for the digital age, leading to a significant loss in revenues for national governments. They have also repeatedly said that if international negotiations do not yield a satisfactory result, the EU should take the lead and go it alone.

Procedure: Own initiative resolution
2021/2010(INI)
Debate: Wednesday, 28 April
Vote: Wednesday, 28 April, result Thursday, 29 April

Further information

 


Addition 23 August 2021
The informal leaders of the world cooperating through G20, show the same desinterest for their citizens. In a recent communiqué they inform the public that they “have achieved a historic agreement on a more stable and fairer international tax architecture“, an architecture that does not include abolishment of Citizenship-Based Taxation of the U.S. They speak pious words about inclusion; the victims of FATCA are however completely disregarded.

Over Ellen Timmer, advocaat ondernemingsrecht @Pellicaan

Verbonden aan Pellicaan Advocaten, http://www.pellicaan.nl/, kantoor Rotterdam, telefoon 088-6272287, fax 088-6272280, e-mail ellen.timmer@pellicaan.nl ||| Weblogs: algemeen: https://ellentimmer.com/ || modernisering ondernemingsrecht: http://flexbv.wordpress.com/ ||| Motto: goede bedoelingen rechtvaardigen geen slechte regels
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