EU evokes transparency to curtail tax evasions of big corps

The European Union moving toward transparency with rules requiring multinational companies to reveal figures of revenue and taxes paid in the Union and how much in tax havens. Oxfam said the EU’s list of tax havens was incomplete so many tax haven countries would evade scrutiny. (Reuters, June 2, 2021, by Jan Strupczewski)

Companies with over 750 million Euros annually would have to provide details of the taxes they pay in member states and in tax havens such as Seychelles. The rules are aimed at such companies as Apple, Facebook and Google who avoid billions of Euros in taxes by shifting their profits. The U.S. Congress is considering similar requirements. (The Guardian, June 2, 2021, by Daniel Boffey)

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