BRUSSELS: Members of the European Parliament voted in favor of establishing a special parliamentary committee to look into the advance tax ruling practices, and other similar measures, of European Union member states.
The committee is being set up in the wake of a series of investigations launched by the European Commission into tax rulings for multinational corporations by the tax authorities in Luxembourg, Ireland, Belgium, and the Netherlands, among others.
The committee will look into tax ruling practices as far back as January 1, 1991, and will also review the way the European Commission treats state aid in member states. In addition it will examine how transparent member states are about their tax rulings. Last, it will review the impact of aggressive tax planning on public finances and present recommendations to the European Parliament.
