The Unshell proposal aims to ensure that entities registered in the European Union with no or minimal economic activity won’t be able to claim tax advantages and, therefore, won’t become a financial burden on taxpayers. The initiative also protects the playing field for most European businesses, which represent a key factor on Europe’s path to economic recovery.
The new measures will create transparency standards around the use of shell entities so that they can be easily detected by tax authorities. By introducing a filtering system for economic entities, the latter will have to comply with various indicators which will become a type of gateway.
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