Major firms should no longer exploit fiscal loopholes to pay less tax

Major firms should no longer exploit fiscal loopholes to pay less tax
By Euronews
Share this articleComments
Share this articleClose Button
ADVERTISEMENT

The European Commission says major firms should no longer be able to exploit fiscal loopholes to pay less tax on their profits.

It wants companies to pay taxes where they do business and proposes common rules for calculating corporate tax.

It follows a series of scandals involving top multinationals.

- We have a single market, we need a single rule book for cross border company taxation. companies acting in several member states would use a single base across all member states when computing their benefits, in stead of using national basis as it is the case now – said Pierre Moscovici, EU Commissioner for Economic and Financial Affairs.

The Commission also named 30 nations or territoriesi deemed particularly “non-cooperative,” when it comes to clamping down on tax evaders.

They include Liechtenstein and Monaco.

Share this articleComments

You might also like

We could crowdfund a progressive Europe for the people, by the people

Ukraine 'not fully satisfied' with new EU grain deal but can make it work, says agriculture minister

Should the EU continue to support Ukraine? Our poll finds Europeans are in favour