The European Union (EU) has launched tax evasion drive following a series of probes into rules that allow multinationals to cut bills in Luxembourg, Ireland and the Netherlands.
The EU’s executive commission is planning to propose a new tax law on the automatic exchange of information about tax rulings next month, reported Associated Press (AP).
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The Commission vice president Valdis Dombrovskis told AP the EU "must reassure people that the tax burden is distributed fairly and the tax rules shall apply equally to all citizens and businesses."
Under the propose law, the 28-country EU commission has pledged to combat on tax rulings favoring big firms.
Earlier this month, the Commission has opened an investigation to find whether a Belgian tax provision allows some companies to reduce their liabilities.
The Commission added that many multinationals are benefiting by shifting profits, a move that deprives EU governments of tax revenues.
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By GlobalDataLast week, the EU formed a special committee to scrutinize national tax rules following reports based on leaked documents that alleged sweet deals were made for big multinationals in Luxembourg.
