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Press conference by Algirdas Šemeta, on a proposal to amend the Parent Subsidiary Directive (2011/96/EU) in order to close off opportunities for corporate tax avoidance


On 25 November 2013, Algirdas Šemeta, Member of the EC in charge of Taxation, Customs, Statistics, Audit and Anti-Fraud, gave a press conference to present the amendments to key EU corporate tax legislation, in order to significantly reduce tax avoidance in Europe. The proposal will close loopholes in the Parent-Subsidiary Directive, which some companies have been using to escape taxation. In particular, companies will no longer be able to exploit differences in the way intra-group payments are taxed across the EU to avoid paying any tax at all. The result will be that the Parent-Subsidiary Directive can continue to ensure a level-playing field for honest businesses in the Single Market without opening opportunities for aggressive tax planning. Today's proposal was foreseen in the Commission's Action Plan against tax evasion last year and will be an important contribution to the on-going battle against corporate tax avoidance at both EU and global level.

Type: EbS   Reference: I-084041   Date: 25/11/2013   Duration: 16:19
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