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Tax avoidance: Commission closes tax loopholes used by companies

November 26, 2013 - Financial & Competition

Lénaïc Vaudin d’Imécourt is joined by Pia Ahrenkilde Hansen, spokeswoman of the European Commission to discuss the tightening of EU corporate tax legislation.

The European Commission adopted a proposal to enhance the existing Parent Subsidiary Directive in order to further erase opportunities for tax avoidance in Europe. Although this directive was initially meant to avoid double taxation of same-group companies in different member states due to loopholes in the legislation, companies use the directive to avoid paying taxes at all. Next to an anti-abuse rule, the proposal by the Commission also includes means to make the Directive tighter and to avoid specific tax planning arrangements for tax exemptions.

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