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Europe could probe sweetheart deals

Europe could probe sweetheart deals
19 Jan 2015

First published in Accountancy Age, 16 January 2014

In all, 194 MEPs - more than a quarter of the house - backed the inquiry to investigate favourable or "sweetheart" tax deals granted to MNCs by EU states. However, the support of the major groups' leaders within the parliament is still required with the matter set to be considered next week.

Keith O'Donnell said,"Following a number of years where aggressive scrutiny and knee-jerk investigations have focused on multinationals, who are simply operating within countries' legal framework, it is right that the political agenda moves on to concentrate on the role and actions of countries themselves."

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Taxand's Take

Multinationals should monitor the developments of this inquiry and ensure their tax affairs are in order.

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Keith O'Donnell
Taxand Board member & Taxand global real estate tax service line leader

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