Thursday, January 28, 2016

EU proposes measures against tax advantages to companies – Terra Peru

The EU presented new proposals to fight tax evasion by big companies with an attempt on the agreements reached between the member countries and multinationals.

The proposals include measures to close tax loopholes common exploiting companies and improvements in the way the tax information in the 28 EU nations shared.

The chief fiscal officer of the EU, Pierre Moscovici, said Thursday that “the days are numbered for companies that abuse the European tax laws.” Every year we lose 50,000 to 70,000 million euros (between 54,000 and 76,000 million) due to tax evasion, he added.

The Commission opened investigations in fiscal 2014 over Apple in Ireland, the Netherlands Starbucks and Amazon in Luxembourg and is also studying tax provisions in Belgium.

The proposals must be approved by EU countries and the European Parliament.

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