The European Union (EU) plans to implement more stringent measures next year to clamp down on tax evasion.
Algirdas Semeta, commissioner for taxation and customs union, said that the taxation governance reforming of this year has been very satisfactory.
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However, Semeta has recommended the finance ministers of member states to support the move for a more transparent and fair global tax environment.
"For the sake of fair and efficient taxation, 2014 must be the year of delivery," added Semeta.
According to Semeta, EU has set up the new framework to strengthen the automatic exchange of information and taken maesures to close loopholes in corporate tax law.
Additionally, EU has also planned to identify solutions to taxing the digital economy and has agreed measures to tackle VAT fraud, and proposed measures to ease compliance.
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