A PYMNTS Company

EU: Watchdog moves to curb tax avoidance strategies by multinational cos’

 |  September 12, 2013

The European Commission confirmed Thursday it initiated an informal probe into tax rulings for multinational companies under state aid law and is now seeking information on the matter. The Financial Times reported Ireland, Luxembourg and the Netherlands have all been the subject of requests for information regarding the matter; a spokesman for EU Commissioner Joaquin Almunia confirmed the reports, stating the watchdog “is simply gathering information on tax rulings.”

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    According to reports, as the EU works to reduce debts and increase revenue, company taxes have come under the watch of the Commission. Calls to crack down on multinational companies’ strategies to avoid taxes have also increased.

    Earlier this year, the Organization for Economic Cooperation and Development offered a blueprint for such a crackdown. Companies like Google Inc., Apple Inc. and Yahoo! Inc. are named in reports for using such strategies.

    The Financial Times reported Starbucks and Apple Inc. were among the companies requested for information regarding tax policy.

    Full Content: Businessweek

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.