After Pandora Papers, EU says it plans new rules against tax avoidance

FILE PHOTO: European Commissioner for Economy Paolo Gentiloni speaks during a media conference regarding business taxation in the 21st century at EU headquarters in Brussels, Belgium May 18, 2021. Virginia Mayo/Pool via REUTERS

BRUSSELS (Reuters) - The European Commission will present by the end of the year new legislative proposals to tackle tax avoidance and tax evasion, the EU tax commissioner Paolo Gentiloni told the European Parliament on Wednesday.

The tax discussion at the plenary session of the EU parliament was added to the agenda after reports this week on a large leak of tax data, known collectively as the "Pandora Papers", which showed how the rich and powerful continue to systematically use offshore companies to reduce their tax bills.