Summary
A report on how multinational companies use secret tax deals and complex structures to avoid paying their fair share of taxes in Europe. 10 25.11.2015
Other
economy
taxation
transport
human rights
social policy
european union
administrative law
business and competition
public finance and budget policy
information technology and data processing
Key points
- The report identifies a significant gap between statutory tax rates and the actual effective tax rates paid by large multinational corporations.
- Aggressive tax planning is estimated to cause annual revenue losses to EU national budgets ranging from 50 to 70 billion euros, potentially reaching up to 190 billion euros when including special arrangements.
- The lack of coordination and the 'veto right' in the Council prevents significant progress on harmonizing corporate taxation across the EU.
- There is an urgent need for a mandatory automatic exchange of information regarding tax rulings to ensure transparency and prevent unfair advantages.
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