European Parliament Passes Law to Restrict Cash Payments to €10,000
The European Parliament has voted to impose a €10,000 limit on cash payments within the European Union
The European Commission has decided to ask all member states to provide information about their tax rulings to ensure compliance with the EU’s state aid rules.
"We need a full picture of the tax rulings practices in the EU to identify if and where competition in the Single Market is being distorted through selective tax advantages,” EU Commissioner in charge of competition policy, Margrethe Vestager, said in a statement on Wednesday.
“We will use the information received in today's enquiry as well as the knowledge gained from our ongoing investigations to combat tax avoidance and fight for fair tax competition," Vestager revealed.
The issue of potentially unfair tax rulings emerged during the LuxLeaks scandal, which revealed that major tax avoidance schemes had been in operation in Luxembourg during the term of office as the country’s prime minister (1995-2013) of the current EU Commission President Jean-Claude Juncker.
The Commission already requested similar information on tax rulings from several EU member states, including Luxembourg, last year.
Now, the Commission will ask all member states to confirm whether they provide tax rulings, and, if they do, to request a list of all companies that had received a tax ruling from 2010 to 2013.
The enquiry is in line with the initiative announced by Juncker on the upcoming legal proposal regarding the automatic exchange of information on tax rulings.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The European Parliament has voted to impose a €10,000 limit on cash payments within the European Union
French President Emmanuel Macron issued a stark warning to Europe, urging the continent to confront the challenges of a rapidly changing world
The European Parliament has approved the EU's inaugural directive aimed at regulating the employment rights of individuals working through online platforms
As the Hungarian forint experiences volatility, German investors are increasingly advocating for Hungary to adopt the euro, reaching the highest level of support in over a decade
Eurostat data indicates that Greece (161.9%), Italy (137.3%), France (110.6%), Spain (107.7%), and Belgium reported the highest public debt-to-GDP ratios among EU member states by the conclusion of 2023
Concerns are mounting within the European Parliament regarding potential Russian interference in the forthcoming parliamentary elections, coupled with apprehensions surrounding Russian-owned properties in Bulgaria
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022