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Hertfordshire Liberal DemocratsHave Six to Fix in Hertfordshire |
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Sharon Bowles MEP launches Campaign against Tax-Dodging Multinationals
April 24, 2012 4:00 PM
By Sharon Bowles MEP
Originally published by South West Hertfordshire Liberal Democrats
By Sharon Bowles MEP
Originally published by South West Hertfordshire Liberal Democrats
Last year big multinational companies operating in the developing world avoided paying taxes of approximately $165 billion to host governments.
Sharon Bowles MEP, who represents South East England in the European Parliament, has launched a new campaign - 'Own, Up, Pay Up!' - to shed light on the issue and to prevent future financial malpractice among EU multinationals.
Hundreds of people have already signed Sharon's petition in support of moves to get tax-dodging multinationals to pay their fair share.
Today Sharon took her campaign one step further by tabling far-reaching amendments to the EU Transparency and Accountancy Directives in the Economic and Monetary Affairs Committee of the European Parliament.
Sharon, who also chairs the committee, said:
"Big multinational companies should not get away with dodging tax in poorer parts of the world.
"The proposed legislation is a good start, calling for more detailed reporting by industries which extract natural resources, but I believe the proposals should cover all industries and that is why I have tabled the necessary amendments.
"International aid last year was approximately $83 billion but tax owed to countries in the developing world is twice that amount - imagine what could be achieved if multinationals simply paid their fair share of tax."
Sharon Bowles MEP lives in Bourne End, Hertfordshire and has a Constituency Office in Berkhamsted.