EU proposes common tax rules to close avoidance loopholes

Multinational companies would have to calculate their tax liabilities according to one set of rules across the European Union under proposals on Tuesday aimed at stopping them shifting profits to avoid taxes. To close the loopholes offered by different national tax rules, the European Commission has proposed a mandatory common tax base for multinationals with total group revenues exceeding 750 million euros ($816 million) a year. "We are proposing a system which can simultaneously support busine