21 Amendments of Martin SCHIRDEWAN related to 2023/2058(INI)
Amendment 6 #
Motion for a resolution
Recital A
Recital A
A. whereas the economic recovery and the climate crisis increase the need to mobilise more resources, increase public investment and re-evaluate current taxation policies in the Member States;
Amendment 10 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
Amendment 13 #
Motion for a resolution
Recital A b (new)
Recital A b (new)
Ab. whereas EU past experience showed the limits of fiscal consolidation, namely on public debt sustainability; whereas debating further options of revenues through fair taxation should complement the current debate on EU fiscal rules;
Amendment 18 #
Motion for a resolution
Recital B
Recital B
B. whereas rising corporate profits account for almost half of the increase in inflation in the EU over the past two years, as companies increased prices by more than the spiking costs of imported energy; a recent study of IMF2a underlines profits were about 1 percent above their pre-pandemic level in the first quarter of 2023 and compensation of employees was about 2 percent below trend; whereas rising corporate profits account for almost half of the increase in inflation in the EU over the past two years, as companies increased prices by more than the spiking costs of imported energy; whereas the profit share of GDP will have to diminish in order for inflation to return to its target; _________________ 2a Euro Area Inflation after the Pandemic and Energy Shock: Import Prices, Profits and Wages
Amendment 23 #
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas ECB raised interest rates to a 22-year high of 3,75% in July; whereas the current cycle of restrictive monetary policy is still ongoing; whereas the full set of economic and social consequences are yet to be fully assessed, such as further pressure on the EU and national budgets, on the stability of the financial system, and hardships for households;
Amendment 31 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
Amendment 38 #
Motion for a resolution
Recital E a (new)
Recital E a (new)
Amendment 41 #
Motion for a resolution
Recital F
Recital F
F. whereas women face implicit tax biases, as they typically rely more on labour income than capital income and spend a higher proportion of their income on consumption; whereas in the EU, secondary earners are predominantly women, earning on average about one third of the household’s joint income; whereas in many EU countries, such as France and Portugal, the secondary earners are penalized by income taxation because the total income of the household is taxed jointly; whereas in many EU countries, such as France, child support is taxed as any other labour income, and more than capital income; whereas women rely on public services to a greater extent;
Amendment 44 #
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas Europe, as well as the rest of the globe, is facing environmental challenges of unprecedented scale and urgency;
Amendment 45 #
Motion for a resolution
Recital F b (new)
Recital F b (new)
Amendment 61 #
Motion for a resolution
Recital J
Recital J
J. whereas between 2020 and 2022, the shipping industry generated as much profit as it had during the previous six decades combined; whereas it still faces low global taxation; whereas the OECD/G20 agreement on multinationals exempted this sector;
Amendment 66 #
Motion for a resolution
Recital K
Recital K
K. whereas SMEs are especially affected by the complexities of the tax system, in particular tax compliance, compared to MNEs, which take advantage of such complexity for aggressive tax planning;
Amendment 70 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Highlights that tax systems and fiscal capacities in the Member States are facing severe shocks, an ageing population and challenges related to the green transition, the digital transformation of their labour markets and the existing tax gap9 , all of which emphasise the need for large public investments in order to achieve a sustainable economic recovery, mobilise private capital and attract entrepreneurship; _________________ Notes that research suggests that 85% of the world’s population will be impacted by austerity measures in 20237a _________________ 7a Ortiz, Isabelle and Cummins, Matthew, ‘End Austerity - A Global Report on Budget Cuts and Harmful Social Reforms in 2022-25’, September 2022, p3, available from 9 European Commission, ‘Tax policies in the European Union – 2020 survey’, Publications Office of the European Union, Luxembourg, 2020.
Amendment 93 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. ObserveRegrets with concern that inflation has been partially driven by companies increasing their profit margins, with, for example, Maersk’s annual pre-tax income soaring from USD 967 million in 2019 to USD 30.2 billion in 2022;
Amendment 96 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Regrets the fact that that MNEs that realise excess profits in times of crisis and wealthy individuals who realise significant capital gains through speculation are often undertaxed; Is concerned that insufficient transparency, information exchange and administrative cooperation undermine states’ ability to adequately tax profits, wealth and capital gains8a _________________ 8a European Court of Auditors, ‘Exchanging tax information in the EU: solid foundation, cracks in the implementation’, p5, March 2021,
Amendment 137 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Calls on the Commission to assess the effectiveness of the temporary VAT reductions applied in Member States and to take measures if deemed necessary; Calls on the Commission to assess the different price control schemes carried out by Member States to support the development of measures to protect consumers, especially vulnerable households;
Amendment 151 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Regrets that Member States such as Portugal, Germany and Malta designed tax benefits specifically targeted to attract crypto-assets leading to harmful tax practices and losses of tax revenues;
Amendment 161 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Notes with concern that income inequality has increased in the last 30 years, with wealth being even more concentrated than income and capital gains being mostly realised by the top decile of the population; considers that the Member States should more effectively redistribute income and wealth through the taxation of capital gains, property and wealth; supports calls to start international-level negotiations to establish a progressive wealth tax, in the same veinto be negotiated ast the OECD/G20 global tax deal for corporationsUnited Nations level;
Amendment 173 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Welcomes the adopted solidarity contribution in the EU; regrets, however, its limited scope and short time span; calls on the Commission to consider a permanent excess profit tax on all sectors, in light of the growing evidence that inflation is parmostly profit driven; believ and the inadequacy of the current restrictive monetary policy; calls on Member States to individually implement such excess profit taxes, permanent and covering all sectors; stresses that such taxes would curb the oligopolistic power of certain companies and boost competitiveness, while fighting inflation and raising revenue;
Amendment 178 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Highlights specifically the case of the windfall profits of the banking sector as a consequence of the current monetary policy and a high level of market concentration; Stresses that according to the economist Eric Dor, a deposit facility rate of 3 % – the rate in March 2023 – means that banks in the euro zone will make no less than 122 billion euros per year in revenue from the liquid assets they have placed in central banks; Reminds that the ECB raised its rates since then to 3,75%, meaning a even higher value of revenues; Highlights that according to the same economist, this effortless profit would amount to 183 billion euros per year for a rate of 4.5 % - which will be attained if ECB continues the cycle of restrictive monetary policy; Stresses that a growing number of countries is taxing such profits, namely Czech Republic, France, Italy, Germany, Hungary, Lithuania, Spain, Sweden and United Kingdom;
Amendment 187 #
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15a. Regrets the political stall of the USA to apply Pillar 1 of the OECD/G20 agreement and underlines the consequential lack of 7 to 15% of the revenues needed to pay back the RRF8a;Calls for the Commission to come up with an alternative digital levy; _________________ 8a EU Tax Observatory - The Long Road to Pillar One Implementation: Impact of Global Minimum Thresholds for Key Countries on the Effective Implementation of the Reform