Tax fraud causes EU loss of up to €1 trln

In accordance with the verification results, the EU countries lose 1 trillion euro per year due to the fraudulent schemes and the tax evasion.
At the Helsinki conference on the EU countries tax crime combating Finland Minister of Finance Jutta Urpilainen announced that this situation must be changed. “We need the market economy based on the ethics, in which there are no tax shelters and evasions of the responsibilities,” said Urpilainen.
According to the Minister of Finance report, the measures against these law violations are not effective enough. It is important to get rid of the banking, corporate and EU countries secrecies. Only active and transparent information exchange can help struggle with tax dodgers.
The delegates negotiated on the European Commission plan to crack down on the tax fraud at the international level in collaboration with the OECD and G20.
The Helsinki conference was attended by Finance Ministers of Slovakia, Lithuania, Luxembourg, the Czech Republic, Norway, Vice Finance Minister of Greece and also the representatives of the European Commission, European Parliament and large international organizations.