CCTV9英语新闻：EU members to exchange multinational tax data

The European Union countries have reached an agreement to exchange information on the tax affairs of multinational companies under new rules. 

 

The rules are aimed at stopping multinationals from avoiding paying their fair tax shares. The measures take effect later this year and come amidst growing concern about corporate tax avoidance that costs the EU about 70 billion euros a year. 

 

The rules will require that multinationals disclose their data on revenues, profits and taxes to all of the EU countries where they operate. That data will then be exchanged between the 28 EU states.