Home World News Developed Economies US Should Deal With Domestic Tax Havens Instead of Those in Other...

US Should Deal With Domestic Tax Havens Instead of Those in Other Countries – EU Lawmaker

0
The European Parliament building in Strasbourg, France. (Shutterstock)
The European Parliament building in Strasbourg, France. (Shutterstock)

The United States should address its own contribution to global tax evasion before trying to fix other countries, Thierry Mariani, a member of the European Parliament from France’s right-wing National Rally party, told Sputnik on Monday.

The US was reported as the world’s leading tax haven on Sunday, in the wake of the release of the so-called Pandora Papers. This looks especially bad for Washington, as one of the key parts of US President Joe Biden’s economic agenda is supposed to be boosting tax enforcement and regulation, including plans to go after global tax havens.

“So the Americans and especially their President Joe Biden should give us a break about the willingness of the US federal government to tackle this issue of tax evasion in other countries called ‘fiscal paradises.’ They should start by cleaning up their own house first,” Mariani said.

At the same time, the lawmaker criticized Europe for contributing to the problem with its high tax burdens.

“Europe has the burdensome specialty of taxing at incredibly high levels: 50% and more of what you generate goes back to the state. No wonder that people try, sometimes illegally, to pay fewer taxes,” Mariani explained.

On Sunday, the International Consortium of Investigative Journalists published a new leak on the alleged financial secrets of over 35 current and former world leaders, as well as more than 330 politicians and officials from across the globe. ICIJ said the publication, called “Pandora Papers” in reference to the 2016 Panama Papers scandal, was based on a leak of 11.9 million files.

Send your news stories to newsghana101@gmail.com Follow News Ghana on Google News

NO COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

error: Content is protected !!
WP Radio
WP Radio
OFFLINE LIVE
Exit mobile version