Tax haven

EU To Put End To Tax Avoidance by MNCs

The Finance Ministers of EU member-states have agreed to close loopholes in tax legislation allowing multinational companies to avoid paying taxes on dividends, reported Reuters.

The agreement is a step in the direction of terminating the practice of companies declaring their taxes where they find it most expedient to pay taxes.

EC Proposes New Reporting Rules for Multinationals to Boost Tax Transparency

The European  Commission proposed on Tuesday to introduce public reporting requirements for the largest companies operating in the EU and in tax havens in a bid to boost tax transparency.

The proposal aims to ensure that multinationals publish each year a report disclosing the profit and the tax accrued and paid in each member state on a country-by-country basis.

Panama Papers Reveal Offshore Accounts of Balkan Figures

Media outlets all over the Balkans are scanning the leaked data from Mossack Fonseca to find out which of their own nationals are named in the 11.5 million files.

The documents from the fourth largest law firm in the world, known as the Panama Papers, show the many ways in which rich people around the world have exploited secretive offshore tax regimes and tax havens.

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