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EU Reaches Preliminary Deal on Watered-down Tax-dodging Rules

European Union states reached preliminary agreement on Friday on new rules to counter corporations' tax avoidance, but it watered down some proposals after lobbying by smaller countries, such as Belgium and Austria. Ministers were under pressure to approve new rules proposed by the European Commission in January, after revelations in the so-called Panama Papers and Luxleaks cases . After months of wrangling, EU finance ministers in a regular meeting in Luxembourg backed an amended...

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