Inflation in Europe: That’s what the European Union’s currency commissioner says

Inflation in Europe: That's what the European Union's currency commissioner says
Euro currency

Brussels does not see inflation potential.

(Photo: Vario-Images)

Brussels The European Commission wants to intensify the fight against tax evasion. To this end, it is forcing the European Union to publish accurate information on the tax burden of large companies. “We want to ensure more transparency,” EU currency commissioner Paulo Gentiloni told Handelsblatt and the French business daily Les Ecos. This will help us to fight against aggressive tax planning. Brussels also wants to take action against letterbox companies.

At the same time, Europeans are trying to reach an international tax consensus. “We have the opportunity to reach a political agreement between the G20 countries in Venice in July,” Gentiloni ressed. The U.S. proposal to raise the global minimum tax rate to 21 percent has sparked discussions.

The EU is aiming for a similar level. “I do not think we can go beyond the US proposal,” he said. The Italian was confident that he would be able to convince European Union countries such as Luxembourg and Ireland, which have so far attracted investors to lower taxes, about tax reform.

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