Major step taken to remove tax loopholes

As of 1 January, all EU Member States have to implement coordinated new anti-abuse measures aimed at eliminating some of the most common corporate tax-avoidance practices used by multinational companies.

The new rules boost the EU collective defences against aggressive tax planning and help prevent companies from shifting untaxed profits out of the EU. “The battle is not yet won, but this marks a very important step in our fight against those who try to take advantage of loopholes in the tax systems of our Member States to avoid billions of euros in tax,” EU taxation commissioner Pierre Moscovici (pictured) said.

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