14 Amendments of Daniel BUDA related to 2016/0107(COD)
Amendment 43 #
Proposal for a directive
Recital 1
Recital 1
(1) In recent years, the challenge posed by corporate income tax avoidance and aggressive tax planning has increased considerably and has become a major focus of concern within the Union and globally. The European Council in its conclusions of 18 December 2014 acknowledged the urgent need to advance efforts in the fight against tax avoidance both at global and Union level. The Commission in its communications entitled ‘Commission Work Programme 2016 - No time for business as usual’16 and ‘Commission Work Programme 2015 - A New Start’17 identified as a priority the need to move to a system whereby the country in which profits are generated is also the country of taxation. In this way, by requiring companies to pay tax in the country in which income is generated, public scrutiny can reinforce public trust and strengthen corporate social responsibility, helping to enhance welfare levels. The Commission also identified as a priority the need to respond to our societies’ call for fairness and tax transparency. with a view to establishing an equitable and efficient corporate tax system in the EU. __________________ 16 COM(2015) 610 final of 27 October 2015. 17 COM(2014) 910 final of 16 December 2014.
Amendment 47 #
Proposal for a directive
Recital 2
Recital 2
(2) The European Parliament in its resolution of 16 December 2015 on bringing transparency, coordination and convergence to corporate tax policies in the Union18 acknowledged that increased transparency, cooperation and convergence in the area of corporate taxation policy in the Union can improve tax collection, make the work of tax authorities more efficient and ensure increased public trust and confidence in tax systems and governments. __________________ 18 2015/2010(INL). 2015/2010(INL).
Amendment 68 #
Proposal for a directive
Recital 5
Recital 5
(5) Enhanced public scrutiny of corporate income taxes borne by multinational undertakings carrying out activities in the Union is an essential element to further foster corporate responsibility, to contribute to the welfare through taxes, to promote fairer tax competition within the Union through a better informed public debate and to restore public trust in the fairness of the national tax systems. Such public scrutiny can be achieved by means of a report on income tax information, irrespective of where the ultimate parent undertaking of the multinational group is established. At the same time, such reporting strengthens dialogue and promotes mutual trust within undertakings since it can provide objective and reliable data about the companies’ situation, raising in this way awareness in all stakeholders, including employees, of adaptation needs. It may also contribute to employee involvement in the operation and in the future of the undertaking and increase its competitiveness.
Amendment 82 #
Proposal for a directive
Recital 7
Recital 7
(7) In order to avoid double reporting for the banking sector, an exemption clause is introduced to the effect that ultimate parent undertakings which are subject to Directive 2013/36/EU of the European Parliament and of the Council21 and which include in their report prepared in accordance with Article 89 of Directive 2013/36/EU all its activities and all the activities of its affiliated undertakings included in the consolidated financial statements, including activities not subject to the provisions of Chapter 2 of Title 1 of Part Three of Regulation (EU) No 575/2013 of the European Parliament and of the Council22, should be exempted from the reporting requirements set out in this Directive. __________________ 21 Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, p. 338). 22 Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).
Amendment 106 #
Proposal for a directive
Recital 14
Recital 14
(14) Since the objective of this Directive cannot be sufficiently achieved by the Member States but can rather, by reason of its effect, be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union. The EU action is thus justified in order to address the cross-border dimension where there is aggressive tax planning or transfer pricing arrangements. This initiative responds to the concerns expressed by interested parties about the distortions in the single market without compromising EU competitiveness. It should not cause undue administrative burden on companies, generate further tax conflicts or pose the risk of double taxation. In accordance with the principle of proportionality as set out in that Article, this Directive does not go beyond what is necessary in order to achieve that objective at least with regard to greater transparency.
Amendment 107 #
Proposal for a directive
Recital 15
Recital 15
(15) This DirectiveOverall, within the framework of this Directive, the extent of the information is proportionate to the objectives of increasing public transparency and public scrutiny. This Directive is therefore considered to respects the fundamental rights and observes the principles recognised in particular by the Charter of Fundamental Rights of the European Union.
Amendment 108 #
Proposal for a directive
Recital 16
Recital 16
(16) In accordance with the Joint Political Declaration of 28 September 2011 of Member States and the Commission on explanatory documents24, Member States have undertaken to accompany, in justified cases, the notification of their transposition measures with one or more documents explaining the relationship between the components of a directive and the corresponding parts of national transposition instruments, for example in the form of a comparative chart. With regard to this Directive, the legislator considers the transmission of such documents to be justified. __________________ 24 to achieve the objective of this proposal and avoid potential omissions and inconsistencies regarding implementation by the Member States under their national legislation. __________________ __________________ 24 OJ C 369, 17.12.2011, p. 14. OJ C 369, 17.12.2011, p. 14.
Amendment 117 #
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2013/34/EU
Chapter 10 a – Article 48 b – paragraph 1 – subparagraph 1
Chapter 10 a – Article 48 b – paragraph 1 – subparagraph 1
Member States shall require ultimate parent undertakings governed by their national laws and having a consolidated worldwide net turnover exceeding EUR 750 000 000 as well as undertakings governed by their national laws that are not affiliated undertakings and having a worldwide net turnover exceeding EUR 750 000 000 to draw up and publish a report on income tax information on an annual basis in accordance with the scope of global OECD initiatives on tax transparency.
Amendment 140 #
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2013/34/EU
Chapter 10 a – Article 48 b – paragraph 3 – subparagraph 1
Chapter 10 a – Article 48 b – paragraph 3 – subparagraph 1
Member States shall require the medium- sized and large subsidiary undertakings referred to in Article 3(3) and (4) which are governed by their national laws and controlled by an ultimate parent undertaking which has a consolidated worldwide net turnover exceeding EUR 750 000 000 and which is not governed by the law of a Member State, to publish the report on income tax information of that ultimate parent undertaking on an annual basis.
Amendment 160 #
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2013/34/EU
Chapter 10 a – Article 48 b – paragraph 5 – point a
Chapter 10 a – Article 48 b – paragraph 5 – point a
(a) the undertaking which opened the branch is either an affiliated undertaking of a group which is controlled by an ultimate parent undertaking not governed by the law of a Member State and which has a consolidated worldwide net turnover exceeding EUR 750 000 000 or an undertaking that is not an affiliated and which has a net turnover exceeding EUR 750 000 000;
Amendment 172 #
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2013/34/EU
Chapter 10 a – Article 48 c – paragraph 2 – point a
Chapter 10 a – Article 48 c – paragraph 2 – point a
(a) Designation/designations and a brief description of the nature of the activities;
Amendment 243 #
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2013/34/EU
Chapter 10 a – Article 48 e – paragraph 1
Chapter 10 a – Article 48 e – paragraph 1
1. To strengthen accountability towards third parties and ensure appropriate governance, Member States shall ensure that the members of the administrative, management and supervisory bodies of the ultimate parent undertaking referred to in Article 48b(1), acting within the competences assigned to them under national law, have collective responsibility for ensuring that the report on income tax information is drawn up, published and made accessible in accordance with Articles 48b, 48c and 48d.
Amendment 249 #
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2013/34/EU
Chapter 10 a – Article 48 f – paragraph 1
Chapter 10 a – Article 48 f – paragraph 1
Member States shall ensure that, where the financial statements of an affiliated undertaking are audited by one or more statutory auditor(s) or audit firm(s) pursuant to Article 34(1), the statutory auditor(s) or audit firm(s) also check whether the report on income tax information has been providepared, published and made accessible in accordance with Articles 48b, 48c and 48d. The statutory auditor(s) or audit firm(s) shall indicate in the audit report if the report on income tax information has not been providepared, published or made accessible in accordance with those Articles.
Amendment 267 #
Proposal for a directive
Article 1 – paragraph 1 – point 3 – point b
Article 1 – paragraph 1 – point 3 – point b
Directive 2013/34/EU
Chapter 10 a – Article 49 – paragraph 3 a
Chapter 10 a – Article 49 – paragraph 3 a
(3a) Before adopting a delegated act, the Commission shall consult experts designated by each Member State in accordance with the principles laid down in the Interinstitutional Agreement on Better Law-Making of [date].’, taking particular account of the provisions of the Treaties and the Charter of Fundamental Rights of the European Union.’ (This amendment applies throughout the legislative text under consideration.)