Daily Tax Report: International

EU Calls Out Six Member Countries on Aggressive Tax Planning

May 20, 2020, 1:59 PM

Lack of withholding taxes on payments leaving Hungary and high royalty and dividend payments in Ireland are among the weaknesses of EU member countries’ tax frameworks, the European Commission said Wednesday.

The commission highlighted six countries in its regular European Semester review of the bloc’s national economic policies—Cyprus, Hungary, Ireland, Luxembourg, Malta, and the Netherlands—where it said loopholes should be closed to prevent aggressive tax planning.

The coronavirus crisis has made the fight against aggressive tax planning an “even clearer priority than in the past,” Paolo Gentiloni, the European Union economy commissioner, said at a press briefing in Brussels....

To read the full article log in. To learn more about a subscription click here.