10th December 2012
The European Commission has proposed an action plan to tackle the issues of corporate tax evasion and fraud in the EU. Such evasion and fraud by major companies are believed to cost European governments up to €1trillion a year.
The action plan sets out 30 new measures to close loopholes and increase information exchange. The European Commission has also called on EU-member countries to implement the current EU code of conduct on business taxation as soon as possible.