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Eversheds comment: EU can't tackle tax avoidance in isolation

  • United Kingdom

    22-05-2013

    As EU leaders prepare to discuss a coordinated approach to tackling the issue of tax avoidance, Ben Jones, tax expert at global law firm Eversheds, says:

    "Given the highly public recent questions over the tax affairs of some prominent multinational companies, it is perhaps inevitable that tax avoidance will dominate this EU summit. However, while the issue deserves this top level attention, the public should not expect any game-changing developments and indeed it would be wrong for the EU to try to tackle the issue on its own.

    "The problem is global in scope and requires a detailed review that ultimately leads to changes to the system of international tax law that governs cross-border transactions and businesses. Uncoordinated attempts by individual countries or blocs of countries to tackle the issue may actually create more tax "loopholes" or have a detrimental impact on businesses that do not engage in aggressive tax planning, damaging rather than benefiting some economies."

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