Page 68 - Ekonomija i Biznis_May 2016.indd

FLASH WORLD
THE MOST DEVELOPED
EUROPEAN COUNTRIES
WANT A CREATION OF
A BLACK LIST OF TAX
HAVENS
The Ministers of Finance of
France, Germany, Italy, Spain
and the United Kingdom repre-
sented a plan for development
of a standard for automatic ex-
change of useful information
on ownership, announced the
Organization for Economic Co-
operation and Development
(OECD). Actually, this is a “black agreement was the president
list of tax havens” and the pro-
posal also contains sanctions for
the countries that refuse to co-
operate. Germany, United King-
dom, France, Italy and Spain,
also known as G5, also want
abolishment of the secret iden-
tity of the owners of fictional
companies. The new plan for
exchange of information about
the real ownership of the assets
is being presented after the dis-
coveries in the affair “Panama
documents”. The EU Ministers
focused the attention on the use
of the “grey” structures for con-
cealing the identity for which it
is claimed that they bypass sanc-
tions, they hide taxes or launder
money. The tax affairs in Pana-
ma harmed the international
reputation of the country and
the authorities try to correct
part of the damage by promising
two-sided automatic exchange
of information in the future.
68 May 2016
THE GREEK PORT OF
PIRAEUS FORMALLY
BECOMES CHINESE
COSCO
Greece formally signed the
agreement with a value of 368.5
million Euros wherewith it sold a
share of 67% of the largest Greek
port of “Piraeus” to the Chinese
company “Cosco Shipping Com-
pany”. In the presence of the
Prime Minister Alexis Tsipras,
the Greek party that signed the
of the Greek development fund,
Stergios Pitsiorlas, while the
Chinese party that signed the
agreement was Cosco’s finan-
cial director Feng Jinhua. The
total deal is an amount of 1.5
billion dollars. This includes the ing to the Report, the companies
new investments, as well as divi-
dends for Greece in an amount
of 410 million dollars in the fol- where they keep more than 1,400
lowing 36 years, which is the
duration of the concession. The
Chinese company ever since
2009 managed two terminals at
the port Piraeus, and the goal is
to use the new investments in
order to turn the port into the
main supply hub for the Eastern
European countries through the
railway connection with these
countries. After the signing,
the Chinese Prime Minister Li
Keqiang sent an invitation for a
visit to his Greek colleague Tsip- billion dollars, it was added in
ras. The visit is expected to take Oxfam’s report.
place in June.
THE LARGEST 50
HID 1,400 BILLION
DOLLARS IN THE
FOREIGN TAX OASES
The American corporate giants
such as Apple, General Electric
and many others hid more than
1,400 billion dollars in the foreign
tax oases – claims the American
non-profitable organization Ox-
fam. The organization is directed
towards the vast gain that the
largest American companies
keep abroad. According to the
latest Report of the American
branch of the international hu-
manitarian organization Oxfam,
fifty leading American compa-
nies hid the gain in the period
between 2008 and 2014. Accord-
performed this through 1.600 of
their subsidiaries in the tax oases
billion dollars of their profit. At
the same time in the home coun-
tries they used the state support
at the expense of the tax payers,
wherewith the American au-
thorities received 11,200 billion
dollars of loans in total, as well
as credit guarantees and other
forms of financial assistance.
General Electric keeps 119 billion
dollars outside USA, Microsoft
has 108 billion, and Alphabet,
Google’s parent company has 47
Miroslav Sazdovski