The European Union seeks tax rule action

The European Union needs a quick agreement on proposed rules for lawyers, bankers and other advisers that help devise ways to aggressively cut tax bills, the European tax commissioner Pierre Moscovici has said, writes Francesco Guarascio. 

The appeal for more transparency on tax matters comes after new revelations, known as the Paradise Papers, of widespread use by companies and wealthy individuals of off-shore jurisdictions.

In a speech in the European Parliament in Strasbourg, Mr Moscovici called on member states and EU legislators to agree “in the next six months” on proposals made by the EU’s executive commission in June that would force tax advisers to report tax-planning schemes devised for their clients.