Tax havens: major new Spanish report.
It's long, but well worth reading. Its conclusions, aimed at the Spanish government, run as follows:
- Speed up the creation of a new list of tax havens, taking advantage of the work done in the Global Forum of Taxation’s peer review process
- Promote at the European level the application of sanctions on non-coop- erative jurisdictions.
- Launch an initiative aimed at multilateral tax cooperation based on the OECD and Council of Europe Convention on Mutual Administrative As- sistance in Tax Matters
- Establish a system of multilateral sanctions
- Support the implementation of an automatic system of information ex- change to replace the OECD’s current on-request model
- Speed up the EU Savings Tax Directive review
- Promote the mandatory establishment of a national register of trusts, com- panies, foundations and other legal entities created in their territories in all EU member states
- Create a European register of companies and trusts for all the EU member states
- Request the Financial Action Task Force (FATF) to review Recommenda- tions 33 and 34 regarding beneficial ownership
- Promote the creation of a Multilateral Tax Agency to fight against tax eva- sion, capital flight and tax competition
- Promote greater transparency in MNC accounts presentation to make the fight against harmful tax practices more effective. Including work on the CCCTB, on International Accounting Standards, on Country-by-country reporting,