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Germany, France, Italy Press EU to End Company Tax Deals

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Germany, France and Italy urged European Union regulators to speed up and widen curbs on tax-lowering deals for companies, saying the EU should adopt rules by the end of next year.

Measures should go beyond greater transparency and company registries to a “general principle of effective taxation” to stem the EU’s lack of “tax harmonization” that entices companies to cherry-pick where they pay, according to a joint letter by finance ministers Wolfgang Schaeuble, Michel Sapin and Pier Carlo Padoan to the EU Commission.