Top EU Tax Official Renews Call for Shell Company Rule Approval

Agreement among EU countries on a stalled rule requiring screening of suspected shell companies for genuine economic activity is a major priority for the EU’s top tax official during his remaining time in office, the official said Tuesday.

Approving the rule, known as the Unshell Directive, is “absolutely important” at a time when EU citizens are “rightly repelled” by use of shell companies to avoid taxes, European Union economy commissioner Paolo Gentiloni told the European Parliament’s tax subcommittee. Gentiloni’s term ends Oct. 31, 2024.

The European Commission proposed the rule in December 2021, but countries have so far not agreed ...