Fair Taxation: Commission welcomes agreement reached by Member States on new rules to tackle tax avoidance
EU News 222/2016
Brussels, 21 June 2016
The Commission has welcomed today's agreement by Member States on their general approach for far-reaching new rules to eliminate the most common corporate tax avoidance practices.
First proposed by the Commission in January, these legally-binding rules were agreed swiftly to spur global efforts to clamp down on aggressive tax planning. They are particularly timely given the recent Panama Papers revelations.
The measures in the Directive target the main forms of tax avoidance practiced by large multinationals and builds on global standards developed by the OECD last year on Base Erosion and Profit Shifting (BEPS).
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