EU to clamp down on corporate tax avoidance

The EU's Finance Ministers have agreed to clamp down on corporate tax avoidance.

They have signed off on rules which will stop companies from escaping tax in more than one jurisdiction.

Some multi-nationals have been able to exploit the previous rules to ensure that they do not pay corporate tax in either their home country, or a country in which it operates.

Member states now have until the end of December 2015 to introduce their own laws to give effect to the decision.