Rather than an ambitious reform of the corporate tax rules, today's EU tax package is a Christmas present to all the multinational corporations that will be able to continue paying very low taxes.

The Group of 77 (G77) – representing more than 130 developing countries – has repeatedly proposed the establishment of an intergovernmental tax body under the United Nations (UN) to fix the broken global tax system.

In 2016, in response to the tax scandal known as the ‘Panama Papers’, the European Commission put forward a proposal for a 5th EU Anti-Money Laundering Directive. Among other things, the Commission suggested introducing public registers of beneficial owners – something that civil society organisations and the European Parliament had been advocating for many years.

Over the last few years, advance pricing agreements (APAs) – also known as ‘comfort letters’ or ‘sweetheart deals’ – have been at the centre of several tax scandals, as well as state aid cases that the European Commission has launched against EU Member States, involving alleged loss of millions of Euros in tax income.

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