• EU Parliament approves rules against tax avoidance practices


    The European Parliament on Wednesday approved the EU Commission's proposal for an anti-tax avoidance directive aiming to introduce:

    • stricter limits on deductions for interest payments;
    • tougher rules on foreign income;
    • more transparency for trust funds and foundations;
    • common rules for "patent box" tax reductions on intellectual property earnings; and
    • an EU blacklist of tax havens and sanctions against uncooperative jurisdictions.

    This proposal is for a Council directive, upon which EU member states would have to agree unanimously.

    Click here for the full European Parliament press release on the EU Commission's proposal for an anti-tax avoidance directive.

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