EU set to clamp down on shell companies

News Team, 23/01/2023

Members of the European Parliament have voted to widen the scope and toughen sanctions of proposed legislation aimed at clamping down on shell companies used for tax purposes.

MEPs voted to amend an EU Commission’s proposal for a directive setting out criteria for determining a shell company used for tax avoidance and tax evasion, the ensuing penalties as well as reporting requirements.

MEPs amended the Commission proposal, notably by slightly lo...

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