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Luxembourg caves in to EU tax listing demands

19.12.14 @ 09:01

Luxembourg on Thursday (18 December) caved in to pressure to give EU-anti trust regulators the details of tax deal schemes it has with multinational companies. Prime minister Xavier Bettel said he would comply with the ...

Spain pushes for taxation debate at EU summit

18.12.14 @ 09:29

It was supposed to be all about investments and Russia, but the issue of tax avoidance is likely to creep onto the EU summit agenda on Thursday (18 December). In the draft summit conclusions circulated among EU ...

IMF says Belgian reforms good step, but more is needed

16.12.14 @ 09:28

The Belgian government is planning “many welcome measures to address the critical macroeconomic challenges facing the Belgian economy”, but it can do more, the International Monetary Fund (IMF) said on Monday (15 ...

EU's 2015 to-do list: Tax, economic integration, GMOs

11.12.14 @ 15:10

The European Commission intends to combat tax evasion, deepen economic integration, review its legislation on GMOs, and set up a mandatory lobbyist register, according to its draft legislative programme for 2015. Next ...

Juncker seeks to bypass vetoes on tax reform

10.12.14 @ 18:39

European Commission president Jean-Claude Juncker has indicated he will try and get around member states’ veto powers over fiscal issues when he proposes new laws to clamp down on tax avoidance. In an interview with the ...

Online businesses in despair over EU tax rules

10.12.14 @ 09:28

New VAT rules coming into force on 1 January 2015 designed to put a stop to billions of euros of the consumer tax being lost due to a loophole have left some businesses overwhelmed and "confused". Under the rules - ...

Skype among newly revealed Luxembourg tax deals

10.12.14 @ 09:08

Political pressure on European Commission president Jean-Claude Juncker is set to rise again after newly-revealed documents show an additional 35 companies, including Walt Disney and Skype, using Luxembourg's tax regime ...

LetterA letter to Jean-Claude Juncker

09.12.14 @ 07:28

Dear President Juncker, As investigative journalists, we believe in the critical role of the media in holding institutions to account, exposing corruption, and challenging threats to the social contract between states ...

France, Germany call for tax avoidance clampdown

02.12.14 @ 10:28

The finance ministers of Germany, France and Italy have called on the EU to propose new law to curb corporate tax avoidance, In a joint letter to the EU's economics commissioner Pierre Moscovici on Monday (1 December), ...

EU commission will use LuxLeaks for new cases

20.11.14 @ 19:08

"We consider the Luxembourg Leaks as market information. We will examine it and evaluate whether or not this will lead us to opening new cases," EU anti-trust commissioner Margrethe Vestager told press in Brussels on ...

OpinionTime to put focus on tax justice across Europe

18.11.14 @ 09:01

What the recent tax scandals in Luxembourg have shown is that governments are stripping back public services, while at the same time encouraging companies to engage in complex tax schemes. The promotion of tax evasion ...

EUobservedJuncker: 'It's not 'my' problem, it's 'our' problem'

14.11.14 @ 09:57

A level teaspoon of grudging credit where grudging credit is due. After completely fluffing his response to the LuxLeaks last week (i.e. by disappearing), the erstwhile Grand Duchy PM evidently realised that a G20 ...

EU tax havens drain money from developing nations

13.11.14 @ 09:22

Tax havens in countries such as Luxembourg are zapping billions of euros from the coffers of developing countries and forcing weak governments to rely on dwindling international development aid, experts say. Charles ...

MEPs demand answers from Juncker over Luxembourg tax deals

12.11.14 @ 09:29

A week after the LuxLeaks revelations and as a new report into tax practices of 15 EU countries is published, pressure is mounting on EU commission chief Jean-Claude Juncker to give some answers. The Socialists, Greens ...

Ministers edge closer to agreeing transactions tax

08.11.14 @ 12:46

Eleven EU finance ministers edged closer to agreeing a tax on financial transactions at a meeting on Friday (7 November). At a press conference following the monthly meeting of EU finance ministers on Friday (7 November ...

EUobservedWhere is Juncker?

07.11.14 @ 17:44

Well that was short-lived. Our new "political" commission arrived on Monday (31 October), wobbled into being on Tuesday, had its highpoint on Wednesday, and shut up shop on Thursday. There will (presumably) be fewer ...

AgendaMEPs want answers on Luxembourg leaks this WEEK

07.11.14 @ 17:31

Leaked tax evasion schemes for multinational corporations in Luxembourg loom large as the new European Commission enters its second week in office. EU commission president Jean-Claude Juncker, who was Luxembourg’s prime ...

Dutch tax regime similar to Luxembourg's, auditors find

06.11.14 @ 17:20

Dividend, interest and royalty payments that companies let pass through the Netherlands to avoid taxation have increased substantially in the past decade, the Netherlands Court of Audit has found. In a report published ...

Juncker 'serene' over Luxembourg tax scandal

06.11.14 @ 16:17

The EU commission may "broaden and deepen" its investigations into Luxembourg taxation practices, commission spokesman Margaritis Schunas said Thursday (6 November) after the publication of Luxembourg Leaks by several ...

Juncker in spotlight after Luxembourg tax revelations

06.11.14 @ 09:29

Governments in Europe and all over the world have missed out on billions of euros of potential tax income because companies channeled their profits through Luxembourg, an investigation by the International Consortium of ...

OpinionTax havens: why urgent action is needed

04.11.14 @ 15:50

European multilateral banks need to go bigger and better on transparency of ultimate owners and country-by-country reporting to reach their development and transition goals. A report recently released by NGO Eurodad, ...

InvestigationEurope’s tax haven investments in Africa

31.10.14 @ 08:22

The honour of delivering the keynote address at the high-level EU-Africa Business Forum earlier this year fell to Dr Ahmed Heikal. In front of European Commissioners, leading politicians, chief executives of huge ...

Dublin to scrap 'double Irish' tax loophole

15.10.14 @ 09:26

Ireland will scrap a controversial tax instrument which allows companies to legally shift huge profits from Ireland to countries with low taxes, the country's budget minister has announced. Speaking in the Irish ...

EU launches probe into Amazon's Luxembourg tax deal

08.10.14 @ 02:07

The European Commission will launch a probe into Amazon's tax arrangements in Luxembourg, the EU's competition chief has confirmed. Speaking with reporters on Tuesday (7 October), Joaquin Almunia said the investigation ...

Apple's tax deal illegal, EU commission tells Ireland

30.09.14 @ 17:45

Ireland's tax arrangement with software giant Apple constitutes illegal state subsidy, the European Commission has said. In a letter made public on Tuesday (30 September), but sent to the Irish government in June, the ...

Polish minister calls for €700 billion EU investment fund

05.09.14 @ 09:28

The EU should establish a temporary investment fund capable of paying for infrastructure projects worth €700 billion, Poland's finance minister has said. In a speech at the Bruegel think-tank on Thursday (4 September), ...

AnalysisEurope's attention finally shifts from bailouts to tax cuts

08.07.14 @ 19:10

It is a sign that the European economy is no longer in crisis-territory that tax cuts rather than bailouts dominated Monday’s (7 July) meeting of eurozone finance ministers. Ministers at the monthly Eurogroup meeting ...

Danes the highest taxed in Europe, reveals Eurostat

16.06.14 @ 18:08

Denmark, Belgium and France are the highest taxed EU countries according to research by the bloc’s statistical agency Eurostat. The data in Eurostat’s report on ‘Taxation trends’ in the EU, published on Monday (16 June ...

EU to launch corporate tax probe into Ireland and others

11.06.14 @ 09:28

The European Commission is to launch a formal investigation into whether tax breaks used to attract international companies breach the EU’s state aid rules. The probe, which is likely to target Ireland, Luxembourg and ...

AgendaEU top jobs and economic prospects to dominate this WEEK

10.06.14 @ 09:28

The EU's top jobs saga, economic future and a possible tax probe are likely to dominate the agenda in the EU this week. The European Commission will host the 10th edition of the annual high-level meeting of religious ...

Belgians face toughest tax burden in EU

07.05.14 @ 09:44

Belgians are the highest taxed workers in the EU and will have to wait until August before they can pay off the taxman, according to research published on Tuesday (6 May). The study by New Direction, a conservative ...

Ministers near deal on 'step-by-step' transactions tax

06.05.14 @ 09:29

Ministers anxious to bring in a tax on financial transactions are hoping to secure a political deal introducing a levy in 2016, in talks planned on Tuesday (6 May). A document outlining plans for the tax's gradual ...

EU top court throws out UK challenge to transactions tax

30.04.14 @ 15:21

The European Court of Justice on Wednesday (30 April) rejected a UK legal challenge to plans by eleven countries to set up a financial transactions tax (FTT). The main thrust of London's opposition to the tax relates to ...

'Bank secrecy to die' after Austria and Luxembourg back EU law

21.03.14 @ 09:28

Austria and Luxembourg at a summit on Thursday (20 March) in Brussels agreed to back EU plans to increase transparency in tax reporting. "We confirmed today that this is the course we want to follow," Luxembourg Prime ...

Corporate tax breaks could be classed as illegal aid, warns EU competition chief

12.02.14 @ 12:07

The European Commission will assess whether governments re-writing their tax laws to offer corporate tax breaks amounts to illegal state aid, the bloc's competition chief said on Tuesday (11 February). Speaking at the ...

Commission to launch EU tax discrimination probe

20.01.14 @ 19:34

The European Commission will examine the tax codes of all 28 EU countries in a bid to stamp out tax discrimination against foreign nationals from other EU countries. In a statement released on Monday (20 January), the ...

AnalysisIs the Greek economy ready to come off life support?

09.01.14 @ 09:29

After six consecutive years of recession, the Greek economy might finally be allowed to leave its life support machine this year. The country's debt burden should start to fall in 2014. So should unemployment. It may ...

EUobservedThe year that almost saw a clampdown on tax evasion

07.01.14 @ 09:25

What do Russian oligarchs have in common with the campaign treasurer of French President Francois Hollande? Or Greece's richest with the family of Azeri autocrat Ilham Aliyev? They were all listed in "Offshore Leaks," a ...

Austria and Luxembourg accused of undermining EU credibility

10.12.13 @ 20:15

Luxembourg and Austria came under attack on Tuesday (10 December) after the two countries stood firm and blocked plans to increase transparency in tax reporting. At a meeting of finance ministers in Brussels, the final ...

EU financial tax is legal, commission lawyers say

06.12.13 @ 09:24

The EU's financial transactions tax is legal and would not discriminate against countries outside its remit, according to lawyers working for the European Commission. A report by the commission's legal team, seen by ...

EU unveils plans to go after tax 'freeloaders'

25.11.13 @ 18:46

The European Commission Monday (25 November) unveiled plans to clamp down on tax 'freeloaders' in its latest bid to target corporate tax avoidance. Officials plan to re-write rules on the tax status of parent and ...

EU bank transparency rules delayed

16.11.13 @ 09:55

Finance ministers on Friday (15 November) failed to reach a political agreement to impose greater bank transparency rules. Both Luxembourg and Austria opposed the measure, which would allow governments to collect ...

EU trade commissioner in tax fraud case

08.11.13 @ 17:24

Belgium's EU commissioner is to appear before court later this month in a case involving charges of tax fraud. Karel De Gucht, in charge of EU trade, was last year accused by Belgian tax authorities of failing to ...

EU multinationals scamming Africa out of billions, Tanzanian MP says

31.10.13 @ 09:23

Tax avoidance loopholes for EU-based multinationals introduced by the World Bank and the International Monetary Fund (IMF) are said to be costing African countries double the amount they receive in foreign aid. “It is ...

InvestigationMillions stashed offshore, as Serbian firms lurched toward ruin

03.10.13 @ 09:05

With accession candidate country Serbia facing EU questions on controversial state sell-offs, newly revealed documents paint a former Macedonian minister as a backstage player in the demise of several big Serbian ...

FocusDim prospects for EU energy tax reform

16.09.13 @ 17:53

Lawmakers are keen to promote energy efficient and cleaner fuels to combat climate change, to encourage alternatives to petrol and diesel and to get squeeze money out of motorists into the bargain. The result is that ...

EU commission not giving up on finance tax

14.09.13 @ 19:12

The European Commission has said it is not giving up on a planned financial transactions tax for 11 EU countries after a legal opinion said it was in breach of EU law. "The European Commission is absolutely confident in ...

EU institutions at war on 'illegal' finance tax

10.09.13 @ 16:49

A financial transactions tax (FTT) for 11 EU countries would be illegal as it affects the tax sovereignty of others, according to an opinion by the legal service of the EU Council in Brussels. The European Commission ...

Greece to seize tax dodgers' assets

14.08.13 @ 09:22

Greek tax authorities will seize the assets of businesses and individuals who do not settle their tax debts, the government said on Tuesday (13 August). Under the plans, the Greek finance ministry will issue warnings ...

G8 tax deal falls short of expectations

19.06.13 @ 10:09

The G8 summit in Northern Ireland concluded with mixed results, as leaders pledged to clamp down on tax dodgers and to improve corporate transparency but did not agree to put in place binding rules. A G8 communique on ...