Clare and the Labour MEP team have called on the European Commission to take strong action now to crack down on tax evasion and aggressive tax avoidance.
Clare Moody MEP said:
"The Commission needs to show the people of the South West that it is listening to their concerns. People across the continent are rightly furious at what they have seen following the 'Lux Leaks' scandal: major multinational companies reducing their tax rates to almost nothing while ordinary citizens face low wages, high unemployment and savage cuts to public services.
Some of these aggressive tax planning practices may not be illegal, but they are certainly immoral. Every pound that these companies dodge in tax is a pound not spent on vital services like schools or hospitals. Figures show Europe is currently losing a staggering €1 trillion (nearly £800bn) every year because of these practices. This 'tax gap' can only be closed by concerted efforts from European leaders.
That's why I want the Commission to commit to plug the gap: by cracking down on tax fraud and tax havens, and by making sure companies pay tax in the place where they make their profits. We need strong action now.