Why has the Commission put forward a Communication on concrete ways to tackle tax evasion and fraud in EU?
In the current economic climate, Member States need every euro that they are due for fiscal consolidation and to rebuild their economies. Member States have, in some cases, almost reached the limit in the expenditure they can cut and taxes they can raise, while honest tax-payers must carry the burden of austerity. Meanwhile, substantial amounts of euros are lost from public finances due to tax evasion and avoidance, with the shadow economy estimated to be around one fifth of GDP on average (€2 trillion).
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