The European Commission is cracking down on corporate tax avoidance. Companies such as Fiat and Starbucks used "artificial and complex methods" to understate profits and avoid taxes. Now both companies face repayments of 20 to 30 million euros.
The European Union has named and shamed 17 countries on a new tax haven blacklist. But the bloc's effort to crack down on tax avoidance has come under fire, with no EU member states included on the list.
The EU will shortly publish a tax haven blacklist, part of a strategy to deal with the issue of global tax avoidance and evasion. The charity Oxfam has its doubts though, and has published a list of its own.
In Brussels' latest regulatory move targeting US tech companies accused of tax avoidance, the European Commission has ordered Luxembourg to collect 250 million euros in back taxes from American retail giant Amazon.
Germany is the biggest loser when it comes to profit transfers to tax havens. But according to international tax expert Gabriel Zucman from UC Berkeley, the eurozone's biggest economy could change this quickly.
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