The European Commission (EC) has announced plans to introduce extra monitoring and reporting requirements for 'shell companies' to combat tax avoidance, in the third revision of its Anti-Tax Avoidance Directive (ATAD) to be published by the end of 2021. The proposal is part of a new long-term business taxation strategy that will include a directive for common corporate tax rules across the EU by 2023; requirements for certain large companies operating in the EU to publish their effective tax rates; equivalent tax treatment of debt and equity financing; and allowing businesses in all Member States to carry up to EUR3 million of domestic losses back to the previous fiscal year...