"Profits have to be taxed where the actual activity takes place. And if we have a situation where member states create an environment which allows them to steal profits from other jurisdictions, that I see as a problem."
Algirdas Semeta, the European Commissioner for taxation, is frank about the commission's intentions to crack down on what it terms "unfair tax competition".
He talks about the "artificial" shifting of profits by large multinational companies to jurisdictions...
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