Every year, in the European Union, around a billion euros are lost due to tax fraud and tax evasion.
To control the loss of essential revenue, the European Commission has presented an action plan that provides a set of measures to help Member States protect their taxable materials and recover millions of euros.
The first recommendation provides for a firm stance by the EU on tax havens that goes beyond existing international measures.
Using common criteria, Member States are encouraged to identify tax havens and include them on national blacklists.
The second recommendation concerns aggressive tax planning and proposes various ways to respond to the specificities and legal loopholes that are exploited by certain companies to avoid paying their fair contribution.
In addition to action at EU level, the Commission also underscored the need for Member States to strengthen tax compliance and the fight against tax evasion at national level.
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