Page last updated at 12:46 GMT, Thursday, 6 December 2012

Tax avoidance statement

The European Commission has presented a new series of measures to try to tackle tax avoidance across the EU.

Presenting the proposals on 6 December 2012, Taxation and Anti-Fraud Commissioner Algirdas Semeta said there would be an EU-wide "blacklist" of countries known to be tax havens.

He added that tax avoidance and tax evasion cost the EU economy around a trillion euros a year.

"Arguing they [tax evasion schemes] are legal, doesn't make them right. They go against the very nature of corporate social responsibility," he concluded.

Other proposals include a Taxpayers' Code, an EU Tax Identification Number, a review of the anti-abuse provisions in key pieces of EU legislation, and common guidelines to trace money flows.

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