The European commissioner for taxation Algirdas emeta said that to enhance transparency and fight tax evasion, tax payers operating across the various member nations could be given a unique identification number.
"Tax evasion is not a problem that any member state can tackle alone; If we play as a team, with a common strategy, we can defeat the fraudsters and evaders, and reclaim vast sums of money that are legitimately due," she said.
Besides the common identification number, emeta proposed the introduction of an EU tax-payer’s charter and the adoption of stronger common measures against tax havens.
The measures will be discussed at the EU Council meeting – the summit of EU heads of state – which is to take place on 28-29 June.
The EC estimates 1trn a year is lost to evasion and frauds across the EU.
"Tax evaders steal from the pockets of ordinary citizens and deprive member states of much-needed revenue," said Algirdas Semeta.
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By GlobalData
Source: Private Banker International