fiscal transparency

Ibex, Markets 13th December 2016

Greens’ accusation of Inditex’s alleged tax evasion may be a call for more fiscal transparency

The Green party lawmakers in the European parliament have accused the world’s biggest clothing retailer Inditex of avoiding paying at least 585 million euros in taxes between 2011 and 2014. According its report ‘Tax Shopping: Exploring Zara’s Tax Avoidance Business’, the fact that Inditex diverted bonus payments to the Netherlands has cost Spain some 218 million euros in uncollected tax revenues, Germany 25 million, Italy 57 million and France 78 million, amongst others.

World economy 15th April 2016

The Panama Papers Or “Global Journalism”

The Panama Papers may have a similar historic reach as the Pentagon Papers, marking the point of no return for reducing the list of countries which protect and promote the lack of fiscal transparency. Tax cooperation between countries with automatic exchange of information (not on request) by all the tax offices does not allow for delays.