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EC focuses on corporate transparency

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The European Commission has laid out the foundation for what it sees as a fairer and more transparent approach to taxation in EU. The Commission stated that companies should be taxed where their profit-generating activities are performed, with aggressive tax planning prevented. A ‘tax transparency package’ of proposals will be put forward in March 2015.

Pierre Moscovici, the EC’s commissioner for economic and financial affairs, taxation and customs, said: ‘Abusive tax practices and harmful tax regimes breed in the shadows; transparency and co-operation are their natural foes. It is time for a new era of openness between tax administrations, a new age of solidarity between governments to ensure fair taxation for all. The Commission is fully committed to securing the highest level of tax transparency in Europe.’