Commission - EU must combat €1tn tax dodging

EU countries must apply common tax rules to combat tax havens and loopholes allowing businesses to avoid corporation tax, according to new proposals released on Thursday (6 December) by the European Commission.

The Commission estimates that around 1 trillion euros is lost each year to tax evasion and avoidance in the EU, The situation is particularly acute at a time when governments across Europe are implementing austerity budgets and attempting to increase taxes to plug budget deficit...