France, Germany call for tax avoidance clampdown

The finance ministers of Germany, France and Italy have called on the EU to propose new law to curb corporate tax avoidance,

In a joint letter to the EU's economics commissioner Pierre Moscovici on Monday (1 December), Germany's Wolfgang Schaeuble, France's Michel Sapin and Pier-Carlo Padoan from Italy said that a new EU directive on anti-base erosion and profit-sharing could be presented before the end of 2014.

"This strong initiative taken by the EU ... would give Europe the lea...