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Tax avoidance and unfair tax competition - agreements 10/12/2014 The European Council of Ministers this week achieved two breakthrough agreements towards combating corporate tax avoidance and aggressive tax planning.

Tax avoidance and unfair tax competition - agreements

The European Council of Ministers this week achieved two breakthrough agreements towards combating corporate tax avoidance and aggressive tax planning. The Council has given its political backing to the anti-abuse clause of the Parent Subsidiary Directive and to the mandatory exchange of information between EU tax authorities.

The move has been welcomed by Pierre Moscovici, European Commissioner for Economic and Financial Affairs, Taxation and Customs.

As a follow-up to the Action Plan against tax evasion and tax fraud of 6th December 2012, the Commission proposed to amend the Parent Subsidiary Directive on 25th November 2013 to introduce a mandatory anti-abuse provision. The new 'de minimis' anti-abuse clause, now agreed, will allow Member States to put in place stricter or more specific domestic provisions or double tax treaty anti-abuse provisions.

"The agreement on the anti-abuse provisions of the Parent-Subsidiary Directive ensures a level-playing field for honest businesses in the EU's Single Market and it closes down loopholes that could be exploited for aggressive tax planning", said Commissioner Moscovici.

EU Finance Ministers also took a final political decision on the automatic exchange of information between the tax authorities of the EU's 28 Member States.

"This decision will ensure that the widest possible scope of automatic exchange within Europe is applied," Commissioner Moscovici said. "We are committed to pushing through this agenda as rapidly as possible. To this end, we confirm our commitment to extend the automatic exchange of information to tax rulings, with a legal proposal to be presented in early 2015."

 

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