Tax Fraud – European Population Wishes

A recent survey commissioned by the European Parliament highlighted that the public would like to see more action in this area. The top three priorities revealed by the results were:

  1. Terrorism
  2. Unemployment
  3. Tax Fraud

Various respondents wanted more EU action in the fight against Tax Evasion and an effective response to the growing concern.

The European Parliament has adopted proposals that will attempt to increase tax transparency and combat tax avoidance. They want:

  1. An automatic exchange of tax rulings between member states.
  2. A common definition of tax havens, and strong and concrete sanctions (including a tax havens blacklist).
  3. An EU register of beneficial owners of companies.

Following the BREXIT vote it would seem that the UK would not be directly affected by any new EU legislation in this regard.

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