The EU hasnt been clamping down on Luxembourg countries up to now.
It is apparently going to investigate soon.
Juncker, EU president is retiring.
Is there some coincidence
Its almost like the EU isnt democratic
We've found Labour's magic money tree!
- Thread starter JP_
- Start date
It is apparently going to investigate soon.
Juncker, EU president is retiring.
Is there some coincidence
Its almost like the EU isnt democratic
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"As of 1 January 2019, all Member States shall apply new legally binding anti-abuse measures that target the main forms of tax avoidance practiced by large multinationals.
Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs, said: "The Commission has fought consistently and for a long time against aggressive tax planning. The battle is not yet won, but this marks a very important step in our fight against those who try to take advantage of loopholes in the tax systems of our Member States to avoid billions of euros in tax."
The rules build on global standards developed by the OECD in 2015 on Base Erosion and Profit Shifting (BEPS) and should help to prevent profits being siphoned out of the EU where they go untaxed. In detail:
Further rules governing hybrid mismatches to prevent companies from exploiting mismatches in the tax laws of two different EU countries in order to avoid taxation, as well as measures to ensure that gains on assets such as intellectual property moved from a Member State's territory become taxable in that country (exit taxation rules) will come into force as of 1 January 2020."
http://europa.eu/rapid/press-release_IP-18-6853_en.htm
No wonder the Tories are so keen to get us out.
Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs, said: "The Commission has fought consistently and for a long time against aggressive tax planning. The battle is not yet won, but this marks a very important step in our fight against those who try to take advantage of loopholes in the tax systems of our Member States to avoid billions of euros in tax."
The rules build on global standards developed by the OECD in 2015 on Base Erosion and Profit Shifting (BEPS) and should help to prevent profits being siphoned out of the EU where they go untaxed. In detail:
- All Member States will now tax profits moved to low-tax countries where the company does not have any genuine economic activity (controlled foreign company rules)
- To discourage companies from using excessive interest payments to minimise taxes, Member States will limit the amount of net interest expenses that a company can deduct from its taxable income (interest limitation rules)
- Member States will be able to tackle tax avoidance schemes in cases where other anti-avoidance provisions cannot be applied (general anti-abuse rule).
Further rules governing hybrid mismatches to prevent companies from exploiting mismatches in the tax laws of two different EU countries in order to avoid taxation, as well as measures to ensure that gains on assets such as intellectual property moved from a Member State's territory become taxable in that country (exit taxation rules) will come into force as of 1 January 2020."
http://europa.eu/rapid/press-release_IP-18-6853_en.htm
No wonder the Tories are so keen to get us out.
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