Arab Today, arab today firms should pay taxes where they earn profits
Last Updated : GMT 16:42:30
Arab Today, arab today
Arab Today, arab today

Commissioner Pierre Moscovici:

Firms should pay taxes where they earn profits

Arab Today, arab today

Arab Today, arab today Firms should pay taxes where they earn profits

EU Economic and Financial Affairs, Taxation and Customs Commissioner Pierre Moscovici
Toulouse - Arab Today

The EU's top economic affairs official said Monday that companies should pay taxes where they earn profits, days after a report of another firm using aggressive strategies to lower their bill.

When asked about a report that the world's top furniture company Ikea may have underpaid taxes by one billion euros using aggressive tax strategies, Pierre Moscovici said "a company should pay taxes where they generate profits".

The EU's economy commissioner told journalists during a visit to the southern French city of Toulouse that "we've had enough of multinational firms benefitting from this or that favourable rule ... to avoid paying tax where they did business to pay little in taxes in countries where the rates are low."

He declined to name any company.

But the Green/EFA group in the European Parliament said at the weekend it had commissioned research that shows Ikea "structured itself to dodge 1 billion euros in taxes over the last six years using onshore European tax havens".

Responding to the report the European Commission said on Saturday it would examine the claims, while Ikea defended its management of its tax affairs.

Moscovici announced last month a raft of measures to combat tax avoidance, in addition to EU investigations under way into the tax deals of major groups such as Apple, Starbucks and McDonald's.

The measures from the European Commission call for big companies to be obliged to report profit country by country -- a break with the previous practice that allowed multinationals to secretly shift revenue across borders to save on tax.

Another requirement will compel nations to agree on minimum standards for drawing up tax rules, so that multinationals stop the practice of shopping around for loopholes to avoid paying tax altogether.

The initiative comes amid growing public outrage about tax avoidance by multinational corporations.

Last month Google agreed to pay £130 million ($185.4 million, 172 million euros) in back taxes to Britain after a scathing government inquiry into the search giant's tax arrangements.

Finance minister George Osborne hailed the agreement as a victory but the sum provoked a barrage of criticism for being too low.

Moscovici noted that small and medium-sized businesses "pay on average 30 percent more in corporate taxes than multinationals. That can't, shouldn't continue."\
Source :AFP

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today firms should pay taxes where they earn profits Arab Today, arab today firms should pay taxes where they earn profits

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today As Olympics loom,China plunges into biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom,China plunges into biz
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues

GMT 18:23 2017 Thursday ,23 February

Ashmawi supports latest economic decisions

GMT 10:34 2017 Tuesday ,21 February

Brazil graft scandal to mushroom abroad

GMT 11:45 2017 Monday ,20 February

Abu Dhabi Aviation looks forward

GMT 06:28 2017 Saturday ,18 February

Gives priority to security over elections

GMT 22:38 2017 Friday ,17 February

Investment promotion would be Sahar Nasr's main task

GMT 13:17 2017 Wednesday ,15 February

Yemeni accuses militias of challenging oil
View News in Arabic - Business: حوارات وتقارير
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday