EU Commission introduces proposals to crackdown on tax multinational companies pay

In response to public outcry over the Panama Papers, the EU Commission has tabled a directive that will increase transparency over the tax large multinational companies like Starbucks and Amazon pay, forcing them to reveal their profits and tax paid in all 28 EU member states. Officials have said that it is the beginning of the end for tax loopholes that have allowed these companies and others like Google and Apple to dodge taxes.

This is useful for Unit 4 – EU Institutions. Note that it is the Commission bringing forth the proposal (the only institution that can propose legislation), but that they are responding to public anger at the Panama papers revelations, and also comments from the European Parliament (mentioned in the news article – they have previously investigated this issue). You might argue that this is a quick response from the EU, within weeks of the revelations they have begun working on legislation…

http://www.theguardian.com/business/2016/apr/12/eu-regulators-demand-greater-tax-transparency-companies

 

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