The European Union agreed Tuesday on a set of rules and standards aimed at closing loopholes that allow wealthy multinationals to shift profits and avoid footing large tax bills.
“Today’s agreement strikes a serious blow against those engaged in corporate tax avoidance,” said Pierre Moscovici, the bloc’s tax affairs commissioner.
Notice that. There’s not the slightest glimmer of a concept of discouraging corporate tax avoidance by lowering tax rates. No, it’s not the corporation’s money; it’s the EU’s, and they’ll decide how much of the money gained by a corporation the EU will permit it to retain.