01/10/2013 Session
The OECD should continue acting to reform the international rules on taxation of multinational corporations so as to “adequately reflect production and trading practices in today’s global economy”.
To guarantee fair taxation of world profits and fuller compliance with the tax regulations, the Parliamentary Assembly – enlarged to include the national parliaments of OECD member states not members of the Council of Europe - invited the OECD in particular to develop mandatory disclosure rules for transactions, with a focus on international tax schemes, and to push for the adoption of a “Big Bang” approach requiring transparency in respect of actual beneficiaries and automatic exchange of information for tax purposes between all countries.
The enlarged Assembly also stressed that financing fiscal consolidation through cuts in public services, social security and pensions “would only prolong the jobs crisis and risk a social crisis”.
Political leaders, the text emphasises, should take measures to restore confidence in the government. Building trust in government action means ensuring respect for high standards of integrity, “particularly in high-risk areas such as lobbying, public procurement and political financing”.