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European Commission unveils plans to tackle shell companies; Vice President Dombrovskis says there is ‘no place in Europe’ for those who ‘exploit the rules’

By Elizabeth Hearst for AMLi

The European Commission has today unveiled plans to tackle shell companies in the bloc to ensure “ordinary taxpayers do not suffer additional financial burden” from those who “avoid paying their fair share”.

European Commission Executive Vice President, Valdis Dombrovskis slammed shell companies for continuing to “offer criminals an easy opportunity to abuse tax obligations”. He added the Commission has seen “too many scandals arising from misuses of shell companies”.

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