EU about to rethink tax systems

The European Commission have shared the contents of their Anti-Tax Avoidance Package (ATAP) with the public. There are three main courses of action: introducing a common consolidated corporate tax base; companies paying taxes where they make profit; member states sharing tax-related information on multinational companies. According to the European Union’s estimation, tax fraud and tax avoidance cause a EUR 50-70 billion loss for the budget. Minister for National Economy Mihály Varga told about the package that Hungary agrees with its general recommendations, but we have concerns about the details.