27th June 2012

European commission proposed new measures against tax fraud and evasion

One day before the European council meeting, EC had discussed new measures that should be taken in order to fight against tax fraud and evasion. The issue of tax evasion is particularly important, as the size of the shadow economy is estimated to be nearly one fifth of GDP on average, representing nearly €2 trillion in total.

The Communication adopted by the EC proposes minimum sanctions for tax crimes, a cross-border tax identification number, an EU tax-payer's charter and stronger common measures against tax havens. The Communication has been submitted to the European Council and an Action plan should be presented until the end of 2012.

For more information click here.

Members of the American Chamber of Commerce in the Czech Republic