Regulating Multinationals’ Tax Avoidance - Tax Reforms in the EU
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Starting from 2012 the phrase “tax avoidance” became frequent in headlines. Many multinationals, such as Google, Amazon and Starbucks were mentioned in tax dodging claims, but were not, however, alone. Apple, eBay, PayPal, Facebook and other multinationals have all been subject to comment. The first claim was against Microsoft and appeared in The Wall Street Journal in 2005. However, it was encountered with nearly null reaction. Tax avoidance practices and the use of tax havens by multinational enterprises have become commonplace and even an essential part of modern business operations. Today it becomes a serious issue for national governments of developed countries. Two projects were introduced in EU, in order to suppress corporate tax avoidance: the Base Erosion and Profit Shifting (BEPS) project of OECD and the Common Consolidated Corporate Tax Base (CCCTB) project. The features and particular objects of these projects are studied in future research. However, it will take reasonable period of time, until both projects will present first results.
Abstract
Starting from 2012 the phrase “tax avoidance” became frequent in headlines. Many multinationals, such as Google, Amazon and Starbucks were mentioned in tax dodging claims, but were not, however, alone. Apple, eBay, PayPal, Facebook and other multinationals have all been subject to comment. The first claim was against Microsoft and appeared in The Wall Street Journal in 2005. However, it was encountered with nearly null reaction. Tax avoidance practices and the use of tax havens by multinational enterprises have become commonplace and even an essential part of modern business operations. Today it becomes a serious issue for national governments of developed countries. Two projects were introduced in EU, in order to suppress corporate tax avoidance: the Base Erosion and Profit Shifting (BEPS) project of OECD and the Common Consolidated Corporate Tax Base (CCCTB) project. The features and particular objects of these projects are studied in future research. However, it will take reasonable period of time, until both projects will present first results.
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