Pressure rises for EU Finance Ministers as they understand the necessity for further tax clarity

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Under pressure from the OECD, the EU’s Council of Finance Ministers has taken up the idea of ‘tax clarity’ in order to reassure multinationals that their EU investments will be treated with utmost importance in all circumstances. As a bare minimum, companies have to know that they have access to a dispute resolution mechanism to resolve any instances of double taxation quickly and easily. During a recent ECOFIN meeting, the President of ECOFIN made a speech reassuring the OECD members that the initiative will not interfere with the EU’s drive against corporate tax avoidance in any way.