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08 March 2018
Brussels
Reporter Ned Holmes

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EU highlights concerning “aggressive tax planning in Europe”

The European Commission has highlighted the “aggressive” tax practices of seven member states.

Speaking at the release of the European Semester Winter Package the Pierre Moscovici, commissioner of economic and financial affairs, taxation and customs, stressed the issue of problematic tax regimes in Cyprus, Hungary, Ireland, Luxembourg, Malta and the Netherlands.

Three of the member states highlighted, Ireland, Malta and Luxembourg, are amongst Europe’s largest captive domiciles.

According to Moscovici the tax practices of the seven member states referenced have “the potential to undermine fairness and the level playing field in our internal market, and they increase the burden on EU taxpayers”.

He continued: “The related country reports are based on a relative review of their tax rules and corresponding factual economic indicators.”

“We must ensure that fair taxation becomes a rule—a rule without exceptions inside and outside the EU.”

Moscovici said the European Semester Winter Package, which is an annual analysis on the economic and social situation in the EU, was necessary to “detect potential bubbles and imbalances and to avoid that they provoke or favor a national or collective crisis”.

He added: “It is thus an exercise of prevention and not of punishment.”

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