The largest banks and the largest corporations in the world along with intelligence agencies are the greatest money launderers in the world.

Millions of dollars are hidden by secret entities in tax havens to finance terrorist attacks and to destabilize countries worldwide.

This fact is of everyone’s knowledge, including the European Union, whose leaders have known about it since before the EU came into existence.

The kleptocrats who today argue for more controls to avoid money laundering into tax havens have been accomplices of such fraudulent practices for decades.

If there is one result of the Panama Papers revelation is that it has given European leaders an excuse to call for more clamping down of the international financial system. They say those new controls will avoid the circulation of dirty money that makes its way into the accounts of criminal organizations, however, the opposite is true.

The EU, from its Brussels headquarters, plans to pull the same trick that its partners and member-States have employed with other issues such as immigration and so-called security from terrorism.

In the case of immigration, European leaders told the public that the continent had to open its doors to refugees because they were fleeing war, poverty, and famine. They just forgot to mention that the war, poverty, and famine were provoked by Europe’s and America’s endless wars in the Middle East and North Africa.

They also did not mention that, among the thousands of refugees that were coming into Europe, there were members of terrorist organizations, which the EU and the United States finance, train and arm to do their dirty work.

The so-called ‘terror attacks’ that took place in Paris, Brussels and other places in Europe were committed by people who entered the continent as refugees. These people were never vetted. No one knew who they were or why they were getting in.

In the case of continental security, the terror attacks themselves served as reasons to justify the launch of a stronger police state in France and Brussels. European leaders later called for the formation of a continent-wide military force and a continent-wide intelligence agency in the name of fighting terrorism.

Semi-permanent states of emergency were installed in France and Brussels because of the attacks and there is no intention of going back to the rule of law.

Now, the EU, in response to the scandal generated from the leak of the Panama Papers, which incidentally was a CIA operation, wants to impose ‘tougher regulations’ so that some 6000 companies worldwide will have to be vetted by the same people who are responsible for allowing the banks to launder money from dubious origins.

According to the plan submitted by the EU Commission, all companies that move more than 750 million euros will be obligated to divulge their tax status. These companies will also have to show documentation regarding their business deals in tax havens.

“Through complicated tax agreements, some multinationals can now expect to pay a third less in taxes than other companies operating in one country. Our proposal to increase transparency will offer more oversight and promote competition between companies regardless of size,” argues the Commissioner for Financial Stability, Financial and Capital Market Services, Jonathan Hill, on the new plan that he says will combat tax fraud.

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It is worthwhile to remember that the deals that Mr. Hill is talking about are those reached by multinationals and national governments. Companies send their profits to tax havens to reduce their tax bill. One of those countries is Luxembourg, the birthplace of the current EU  Commission President, Jean-Claude Juncker, who coordinated many of the agreements signed between his country and the multinationals.

So you see, Juncker and the EU Commission don’t really want to end tax fraud, because as we explained above, they have participated in the creation of programs and plans that favor tax evasion. So what is the EU Commissions’s proposal about, then? It’s simple.

Right now, the European and American establishments do not have complete control over all companies or all tax havens, so their intention is to exercise control over those tax havens that do not respond to their interests. It is a move to consolidate control over financial transactions worldwide and to absorb those smaller tax havens that they don’t control.

Estimates pulled up by the European Commission detail how multinationals keep between 50 billion and 70 billion euros every year. The mob bosses in the EU and Washington are not happy about that. They want these companies that are out of their control to pay that money to them.

The proponents of new legislation to attack so-called tax evasion is allegedly to minimize the amounts given above, which will require multinationals operating in the EU to turn over documentation if their money flows exceed 750 million euros, regardless of where they are based, and to publicly disclose certain information tax information.

In reality, though, what the EU and Washington want is to codify their plans for a complete control of the world’s financial system. Think of it as a massive surveillance system over the finances of large companies that they will also use against everyone else except their own interests.

“The ‘papers Panama’ have not changed our agenda, but have strengthened our determination to ensure that taxes are paid where profits are generated,” noted Hill, who added that “if a large multinational operating in Europe are paying taxes somewhere like Panama for instance, that will have to be made public ”

Companies should report on their website on seven key elements:

the nature of their activities,

the number of employees,

net income,

earnings before taxes,

the amount of taxes paid on account of the profits made in that Member State,

the amount of tax paid during the year and retained earnings.

The process will be all broken down country by country. Currently, European companies already have to submit a dozen massive amounts of  paperwork, although some data still remain secrets, but what will change in the future, according to the EU, is that it will be much easier for the public to access and scrutinize certain tax information and, above all, to compare country by country, says Brussels.

The new plan is about giving the public the idea that they are somehow in a position to check on companies because of some information that they are mandated to publish, while the big banks, intelligence agencies and terrorist organizations funded by western powers continue to enjoy a free ride.

The intention of the EU executive is that large companies to disclose all these data in each of the countries where they are active -must be available at least five years and also disaggregate publicly how many tax dollars they pay for their businesses outside the EU.

In the case of tax havens, multinationals will also be required to provide detailed data.

 

Brussels alleges that the problem is that Europe still has no tools with which to fight tax evasion and that there has been unwillingness from many member-States to support changes in legislation. That opposition is due to the fact that nation-States are the promoters of special deals for companies to operate in their countries.

The new proposal, which must be negotiated now between the European Parliament and the Council, will require a qualified majority to be approved, would not take effect until 2018.

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