EU to multinationals: pay your fair share of taxes
Brussels has tightened controls, adopted stricter rules in fight against tax dodging
Bratislava
MULTINATIONALS should refrain from tax avoidance practices and pay their fair share of taxes, the head of eurozone finance ministers said on Saturday, in a new endorsement of the European Union fight against tax dodging.
In the wake of the "Panama Papers" revelations of widespread tax avoidance practices, Brussels has toughened up its drive for tax fairness by tightening controls and adopting stricter rules. The recent shock multi-billion euro tax demand on Apple was part of that trend. "My message to those companies is you are fighting the wrong battle. You have to move on. Times are changing," the head of the eurogroup and Dutch Finance Minister Jeroen Dijsselbloem told reporters on his arrival to a meeting of EU finance ministers in Bratislava, which will discuss tax policies. "You need to pay your taxes in a fair way. Part of that would be in the US, part of that would be in Europe. So get ready to do that."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Biden now calls ally Japan ‘xenophobic’ along with China, Russia
Japanese companies struggle with yen’s continued weakness
Australia’s March goods trade surplus narrows to more than 3-year low
Hong Kong holds rate as Fed signals inflation concerns
Australian business strength is shocking even its biggest lender
South Korea’s factory activity shrinks in April, but optimism about outlook ticks up