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EU Aims to Deny Tax Breaks to Multinationals With Shell Entities

EU Aims to Deny Tax Breaks to Multinationals With Shell Entities

The European Union will make an official proposal to deny companies tax benefits linked to the use of shell entities, a top tax official said Wednesday.
The EU loses between 30 and 70 billion euros ($35-$82 billion) to corporate tax avoidance each year, said Gerassimos Thomas, director general taxation and customs at the European Commission.
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