Tax Law of the European Union: Tax Policy Priorities

ПОДАТКОВЕ ПРАВО ЄВРОПЕЙСЬКОГО СОЮЗУ: ПРІОРИТЕТИ ПОДАТКОВОЇ ПОЛІТИКИThe purpose of this article is to study the foundations of the tax law of the European Union and the priority areas of development of the tax policy of the Union and the member states.In the course of the study, the following issues were considered: regulatory consolidation of the main aspects of the tax policy of the European Union, priority directions of the tax policy of the European Union, and activities of the bodies of the European Union to control violations of tax legislation.The urgency of the topic is dictated by the public resonance around it, provoked by journalistic investigations of repeated tax leaks, such as the Panama Papers and LuxLeax.Each Member State exercises its own taxation powers in accordance with its national tax legislation, as well as its obligations under the founding treaties of the European Union and the legislative provisions adopted on the basis of such treaties.The main priorities of EU tax policy are the fight against tax fraud, aggressive tax planning, tax evasion, and the fight against harmful tax competition.Tax evasion reduces public money available for important public responsibilities such as social services, health care, and infrastructure.It may also favor large multinationals over smaller local businesses.The EU's main anti-circumvention measures are in line with international rules and are internally consistent with other EU policies aimed at ensuring fair competition between all companies, helping developing countries, and promoting international trade.The role of the EU in the fight against aggressive tax planning and harmful tax practices has grown significantly in recent years.Citizens' assessment of the EU's current involvement in the fight against tax fraud has improved, but most citizens in each member state still share expectations for even more intensive involvement.