European Groups Expose ‘Terrifying Extent Of Corporate Grab’ Within TTIP

19 February 2016
In the media

MintPress News - 'The ability to enact effective and fair tax systems to finance vital public services is one of the defining features of sovereignty,' says Global Justice Now—one that is threatened by corporate trade deals.

According to the London-based Global Justice Now and the Netherlands-headquartered Transnational Institute, the TransAtlantic Trade and Investment Partnership (TTIP) “would massively increase the ability of corporations to sue member states of the EU over measures such as windfall taxes on exceptional profits, or use of taxation as a policy instrument such as a possible ‘sugar tax’.”

"The report (pdf) zeroes in, as others have done, on the Investor-State Dispute Settlement (ISDS) provisions that are an integral part not only of the TTIP but of other massive andcontroversial trade deals currently under negotiation. It shows that corporations have already used such provisions of existing trade deals to sue at least 24 countries, from India to Romania, over 40 tax-related disputes, in some cases successfully challenging and lowering their tax bills."

Read the full article here.