The European Commission has launched a new website providing tax information on the member States to businesses, citizens and the press.

The on-line database provides information on about 500 taxes in force around the EU, including tax base, main exemptions and rate applicable.

The free site also gives information on the revenue generated by each tax and will be updated every year. The system is designed to create more transparency in comparing tax bands across the EU.

Ireland, along with Cyprus, Malta and Portugal, are not yet included on the site, but will be added at a later date.