Posts Tagged ‘tax avoidance’

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Italian individuals and companies shifted billions of euros abroad last year to avoid paying taxes, the economy minister said on Tuesday, as the government considers re-introducing a tax amnesty to boost revenue.

EU finance ministers hailed a major breakthrough in the fight against corporate tax dodging as they struck a provisional deal on legislation that they said would close gaping loopholes revealed by the LuxLeaks scandal.

The federal government lost an estimated $6bn in revenue in 2014 as a consequence of tax avoidance by multinational corporations with Australian operations, according to a new Oxfam report.

The EU Commission proposal for an EU anti-tax avoidance directive was welcomed by Parliament in a resolution voted on Wednesday. MEPs nonetheless advocated stricter limits on deductions for interest payments and tougher rules on foreign income. They also called for more transparency for trust funds and foundations, common rules for “patent box” tax reductions on […]

European Union finance ministers failed to agree new rules to counter tax avoidance and have deferred until June a possible deal to clamp down on multinationals’ schemes to disproportionately reduce tax bills.

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