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EU mulls more measures to combat tax evasion next year

English.news.cn   2013-12-11 00:34:56            

BRUSSELS, Dec. 10 (Xinhua) -- The European Union (EU) will deliver more tight rules next year to clamp down on tax evasion, an EU official said on Tuesday.

Algirdas Semeta, commissioner responsible for taxation and customs union, described the taxation governance reforming of this year as "immense progress."

But he urged finance ministers of member states to turn into action for a more transparent and fair global tax environment. "For the sake of fair and efficient taxation, 2014 must be the year of delivery," Said Semeta.

According to the speech Semeta made at the EU finance ministers' conference,EU have set up the framework to expand the automatic exchange of information and taken steps to close loopholes in corporate tax law, which will the shut door on certain types of tax avoidance.

Besides those measures,the EU have also set the wheels in motion to find solutions to taxing the digital economy and agreed measures to tackle VAT fraud, and proposed measures to ease compliance.

The issue of corporate tax avoidance is very high in the political agenda of many EU and non-EU countries, and the need for action to combat was highlighted at recent G20 and G8 meetings.

Related:

EU fines Johnson & Johnson, Novartis 22 mln U.S. dollars

BRUSSELS, Dec. 10 (Xinhua) -- The European Commission fined drugmakers Johnson & Johnson and Novartis a combined 16 million euros (21.95 million U.S. dollars) on Tuesday for delaying market entry of a cheaper generic painkiller in Dutch.Full Story

Editor: Mengjie
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