Wednesday February 19, 2020

Commission seeks tax changes to stop firms from 'stealing profits'

European Commissioner Algirdas Semeta says it's tax mobility - not tax rates - that is causing the greatest problem, writes Pat Leahy.

13th January, 2013
Algirdas Semeta, European Commissioner for taxation: 'We consider that a certain amount of tax competition is healthy.' Photo: Tony O'Shea

"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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