Parliament spells out the legal steps needed to improve corporate tax transparency, coordination and EU-wide policy convergence in a resolution voted on Wednesday. Parliament's drive to persuade EU member states to act to counter aggressive corporate tax planning and evasion by multinationals in Europe was triggered by the November 2014 "Luxleaks" revelations about Luxembourg's dubious tax deals with them. The resolution, prepared in Parliament's Economic and Monetary Affairs Committee, was passed by 500 votes to 122, with 81 abstentions. The EU Commission will have to respond to every legal recommendation, even if it does not submit a legislative proposal.
The Commission will have three months to respond to the recommendations, either with a legislative proposal or with an explanation for not doing so.