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EU anti-tax evasion

Taxes in the EU

MEPs supported the introduction of a package of measures to combat tax evasion, which include tax havens, the black list of sanctions against “uncooperative jurisdictions”, and income tax throughout the EU.

Recommendations have been prepared by a special parliamentary committee of tax regulations were adopted 514 votes to 68 with 125 abstentions.

The committee’s report in favor of the following:

– Total “Black list” of non-constructive EU jurisdictions, as the European Commission’s proposal with the general definitions unconstructive jurisdictions, and also the provision of extension for a dialogue with jurisdictions for inclusion in the list; – Sanctions against uncooperative jurisdictions, including the ability to revise and suspend of a free trade agreement and deny access to EU funds; – Sanctions for companies, banks, office and law firms, tax advisors testing to include them in illegal, harmful or illegal actions with proximity jurisdictions; – Sanctions for management companies involved in tax avoidance or authority to revoke the license for the business if the experts involved in the illegal schemes of tax planning and evasion; – A possible financial liability for tax advisors engaged in unlawful practices; – EU -Legislation to prevent abuse of the patent box regime; – Guidelines to better define permissible transfer pricing activities; – Improved Protection of employees; – Suggestions Commission before the end of 2016 for total consolidation of the corporate tax base; – A code conduct for banks, tax consultants, law and accounting firms; – Global Register of assets owned by private individuals, companies and organizations such as trusts and foundations, to which the tax authorities will have full access;

Speaker Michael Theurer, who co-authored recommendations Gipp Kofod said: “Tax dumping at the expense of the general public and small and medium-sized businesses that are the backbone of our European economy as a system of fair tax Multinational companies also pay their share, and they need to do. that when they add value and make a profit.

Koefoed added: “With this report, Europe is stepping up to the plate to fight tax evasion and tax havens We set clear requirements for greater accountability, increased sanctions for tax havens, banks, tax advisers and companies, and we call for the expansion. European and international cooperation on this issue is very problematic.”

Author: Olena Kutova
senior lawyer of the Finance Business Service company