EU tax directive will prise out true identity of ‘shell’ entities
Proposed initiative aims to prevent the misuse of such undertakings for tax purposes
On December 22 last, the European Commission released a proposed directive which lays down rules to prevent the misuse of so-called ‘shell’ entities for tax purposes in the EU. This is often referred to as the ‘unshell initiative’.
Its objective is to target cases involving “the setting up of undertakings within the EU which are presumably engaged with an economic activity but that, in reality, do not conduct any economic activities”.
Its aim is to ...