EU Leaders to Urge Stepped-Up Fight Against Tax Evasion

EU leaders attending today’s summit in Brussels will call for a renewed push against tax evasion as cash-strapped nations seek more ways to refill depleted government coffers.

“There is an urgent need to advance efforts in the fight against tax avoidance and aggressive tax planning, both at the global and EU levels,” leaders will say, according to a draft of the meeting statement dated yesterday. The European Commission is due to propose automatic exchange of information among nations on the tax deals they strike with companies, with leaders expecting a progress report by June.