July 31
2021
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Trajan Shipley
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8th June 2021
Banking & Finance Tax

Commission launches public consultation on abusive use of shell companies in the EU

The European Commission has announced it has launched a public consultation concerning a new initiative to fight ‘the abusive use’ of so-called shell companies, which have no real economic activity and are used to provide a more beneficial tax treatment to the companies to which they belong.

The initiative comes as part of the Commission’s package in its Communication ‘on Business Taxation for the 21st Century’, which sets out a policy agenda for new rules on business taxation that seeks to promote a ‘robust, efficient, fair business tax system’ in the EU. According to the Commission’s press release, a future policy proposal regarding shell companies could encompass actions such as tax reporting requirements to ascertain the exist

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