UK seeks to curb European tax rules

During its six-month Presidency of the European (July-December 2005), the UK will lead a push to curb the power of the European Court of Justice (ECJ) over fiscal policy. The move could cost some multi-national companies the chance to regain billions of euros in back taxes. UK officials are to arrange a meeting of EU Finance Ministers to discuss redefining the rules of the internal market in ways that would give more protection to national exchequers against ECJ rulings.