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EU Seeks to Stamp Out Tax Loopholes

Crackdown could include new transparency requirements for global companies.

By Rebecca Christie and Stephanie Bodoni, Bloomberg | Updated on March 19, 2015

The European Union launched a new salvo in its battle against tax evasion with a slate of proposals that would make it harder for companies to avoid taxes.

Countries would need to share information on cross-border tax rulings every three months under one piece of the tax package, announced in Brussels Wednesday. The European Commission said it also will study new transparency requirements for global companies, take stock of the EU Code of Conduct committee that deliberates on tax measures, and increase efforts to quantify the scope of tax evasion and avoidance.

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