The European Council released a note of its conclusions on tax fraud and evasion, agreeing to accelerate its work against tax fraud, evasion and aggressive tax avoidance. The note stated: ‘It is important to take effective steps to fight tax evasion and tax fraud, particularly in the current context of fiscal consolidation, in order to protect revenues and ensure public confidence in the fairness and effectiveness of tax systems.
Increased efforts are required in this field, combining measures at the national, European and global levels, in full respect of Member States’ competences and of the Treaties.’ Priority will be given to extending the automatic exchange of information at both EU and global levels, as well as a number of other measures including country by country reporting, countering VAT fraud, tackling profit shifting and base erosion, and reviewing anti-abuse provisions.
The European Council said that the proposal amending directives on the disclosure of non-financial and diversity information by large companies and groups will be examined, notably with a view to ensuring country by country reporting by large companies and groups. The European Council intends to report back on progress in December 2013.
The European Council released a note of its conclusions on tax fraud and evasion, agreeing to accelerate its work against tax fraud, evasion and aggressive tax avoidance. The note stated: ‘It is important to take effective steps to fight tax evasion and tax fraud, particularly in the current context of fiscal consolidation, in order to protect revenues and ensure public confidence in the fairness and effectiveness of tax systems.
Increased efforts are required in this field, combining measures at the national, European and global levels, in full respect of Member States’ competences and of the Treaties.’ Priority will be given to extending the automatic exchange of information at both EU and global levels, as well as a number of other measures including country by country reporting, countering VAT fraud, tackling profit shifting and base erosion, and reviewing anti-abuse provisions.
The European Council said that the proposal amending directives on the disclosure of non-financial and diversity information by large companies and groups will be examined, notably with a view to ensuring country by country reporting by large companies and groups. The European Council intends to report back on progress in December 2013.
