New EU legislation aims to stop companies taking advantage of tax loopholes

The EU has introduced new rules to stop large multi-national companies avoiding tax.

From Tuesday, every member state will apply new measures aimed at cracking down on the most common tax avoidance practices.

They include countries taxing profits moved to low tax countries where the company doesn't have any genuine economic activity.

The EU says it' i an important step in the bloc's fight against multinationals trying to take advantage of tax loopholes.