The European Commission gets on the tax bandwagon
First published in Global Banking and Finance Review, 30 September 2014
By announcing their investigations through media channels rather than official routes and adopting the rather unjust approach which rebuts the presumption of innocence principle, as no burden of proof is required prior to public naming and shaming, the European Commission (EC) looks on the back-foot.
"The pressures facing these companies is running at an all-time high. Multinationals, who create jobs and prosperity, face numerous attacks; misleading media reports making false accusations of their tax affairs, adapting their businesses to meet new rules and procedures which will be brought in by the OECD; and now the EC taking their name in vain with threats of official investigations", said Frederic Donnedieu de Vabres, Taxand Chairman.
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