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EU ministers can't agree on anti-tax avoidance measures

Staff writer ▼ | May 26, 2016
European finance ministers failed to reach agreement on an anti-tax avoidance directive at Ecofin meeting in Brussels, pushing back a decision until June.
EU ministers
Taxes in Europe   Several hundred pages in a couple of lines
Ireland was one of a number of European countries to raise concerns about the complex set of proposals that were announced by the European Commission in January as a way of clamping down on tax avoidance.

The Minister for Finance, Michael Noonan, said that “several hundred pages of OECD consideration of hybrids have been reduced to a couple of lines in this directive”.

Italy, Britain, Luxembourg, Belgium and a number of east European countries were among those who echoed Ireland’s concerns, though EU economics commissioner Pierre Moscovici urged the EU’s finance ministers to find agreement.

“We cannot afford to lose momentum. Public opinion is watching us, is expecting decisive action.”