Economic and Monetary Affairs Committee MEPs have voted to close loopholes which allow some of the world's largest corporations to avoid paying tax on profits by exploiting differences in the tax systems of EU and third countries.
They backed a resolution recommending changes to the EU's anti-tax avoidance directive by 44 votes to 0 with 2 abstentions. These amendments relate to the different tax rules in third countries which give rise to loopholes — "hybrid mismatches" — and allow firms to escape tax in both jurisdictions.
1