The European Commission will adopt a comprehensive package to strengthen the fight against tax evasion and aggressive tax planning in the EU. This will take place on the 5th of December.
Effects of tax evasion and avoidance
Tax evasion and avoidance deprive member states of almost €1 trillion every year. This results in a serious loss of revenues for public expenditure. It also undermines the fairness of tax systems and creates competitive disadvantages for honest businesses. It results that – given the cross-border nature of tax evasion and avoidance, stronger EU coordination is essential in tackling them.