Adur, West & East Worthing Party including East Arun

Bowles launches campaign against tax-dodging multinationals

Last year big multinational companies operating in the developing world avoided paying taxes of approximately $165 billion to host governments.

Sharon Bowles MEP  for South-East-England in the European Parliament, has launched a new campaign – ‘Own Up, Pay Up!’ – to shed light on the issue and to prevent future financial malpractice among EU multinationals.

Hundreds of people have already signed Sharon’s petition in support of moves to get tax-dodging multinationals to pay their fair share.

Today Sharon took her campaign one step further by tabling far-reaching amendments to the EU Transparency and Accountancy Directives in the Economic and Monetary Affairs Committee of the European Parliament.

Sharon, who also chairs the committee, said:

“Big multinational companies should not get away with dodging tax in poorer parts of the world.

“The proposed legislation is a good start, calling for more detailed reporting by industries which extract natural resources, but I believe the proposals should cover all industries and that is why I have tabled the necessary amendments.

“International aid last year was approximately $83 billion but tax owed to countries in the developing world is twice that amount – imagine what could be achieved if multinationals simply paid their fair share of tax.”