EU: Germany, France targeted for tax-loophole info

The European Union stepped up a probe into tax loopholes for multinational companies, demanding details of specific agreements in 15 nations including eurozone heavyweights Germany, France and Italy.

Regulators also issued an ultimatum to Poland and Estonia for failing to hand over information about tax deals. The EU ordered them to fall in line within one month or face possible legal action at the European Court of Justice.

Margrethe Vestager, the bloc’s antitrust chief, is seeking to throw the spotlight onto the tax affairs of multinationals across the EU, potentially adding to probes targeting fiscal arrangements of Apple Inc. in Ireland, Starbucks Corp. in the Netherlands and Amazon.com Inc. and a Fiat SpA unit in Luxembourg.

“We are putting together the puzzle of tax-ruling practices in the EU,” Ms. Vestager said Monday in an emailed statement. “Sometimes we had to ask member states twice –- or more –- to provide information.”

Full content: Irish Examiner

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