profits credited to deferred dividend policies

26 (1) The Corporation shall maintain an account, to be called the Accumulated Net Earnings, to which shall be credited all earnings, including realized profits on the sale of securities, and to which shall be charged all operating expenses, losses and specific provisions for losses in respect of insurance operations and losses on the sale of securities.

22. Stresses that copyright is an important economic basis for creativity, employment and innovation, as well as the guarantor of cultural diversity, and that it is essential to enable Europe’s creative and cultural industries to compete on a global scale; stresses that further efforts are needed in the field of copyright to strike a balance between all key actors, and that any revision of copyright law should ensure adequate protection that fosters investment and growth in the creative and cultural sector, whilst removing legal uncertainties and inconsistencies that adversely affect the functioning of the Digital Single Market (DSM); urges the Commission to review, where necessary, the regulatory framework for copyright in order to achie ...[+++]ve a better access to creative content for European citizens, and to stimulate European researchers, educational establishments, cultural heritage institutions and the creative sector to adapt their activities to the digital world; underlines that appropriate remuneration must be paid by those who profit from the exploitation of copyright-protected works, and that any solutions in this regard should not discourage the use of legal providers; recalls that digital technologies have redefined the value chain in the cultural sector, mostly to the benefit of intermediaries and often to the detriment of creators; asks the Commission to investigate the extent and impact of such changes and to propose measures to improve the remuneration of authors and artists at European level; stresses that any revised provisions should be future-proof and technologically neutral, evidence based and carefully assessed in line with the Commission’s objective of better regulation, while taking into account the differences between the digital and analogical environments;

18. Stresses that tax avoidance by some MNCs can result in close-to-zero effective tax rates for the profits generated in European jurisdictions, highlighting the fact that such MNCs, while benefiting from various public goods and services where they operate, do not pay their fair share, thereby contributing to national tax base erosion and greater inequalities; stresses also that the possibility to shift profits is only available to companies undertaking cross-border activities which penalises competitors only active in one country; ...[+++]

29. Notes that the existing guidelines for transfer pricing leave MNCs a significant margin of discretion in the choice and implementation of evaluation methods; stresses that the lack of any effective common standard for transfer pricing and the various derogations, exceptions and alternatives provided for are being exploited by MNCs, in contradiction with the spirit of those guidelines, to calibrate their taxable profits by jurisdiction and reduce their overall tax liability through, for instance, abusive cost-plus, arbitrary setting of profit margins or the questionable exclusion of certain expenditure from their calculation; stress ...[+++]es that the best way to address the issue of transfer pricing at EU level is through common tax base consolidation, which does away with the need for these prices;