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