When multinational companies do not pay their income tax but instead bank it in offshore accounts, the national treasury has missed an opportunity to collect revenue.
The European Commission has invited comments on the thorny issue of tax evasion and its impact on the European Union (EU), but a Barbados-based economist has not held back in her broadside of Europeans’ actions against Caribbean financial services centres like Barbados.Marla Dukharan responded to the Europeans’ invitation to comment on its initiative called Tax Evasion and Aggressive Tax Planning in the EU – Tackling the Role of Enablers.The Trinidadian economist, who calls Barbados home, questioned the self-appointed authority of the EU to blacklist sovereign countries on matters related to taxes and enforcement of anti-money laundering standards.In her September 30 submission, Dukharan questioned the right of the EU to tell another country’s government what level of taxes it should apply.“Does the EU not recognise the sovereign right of countries outside the EU to determine their own tax frameworks like those within the EU, such as Ireland and Hungary?“How is it acceptabl
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