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Today’s Top Headlines

EU Proposes Willing States Should Harmonize Tax Regimes

by Ulrika Lomas,, Brussels

03 March 2017

The European Commission has outlined possible scenarios in which EU member states could cooperate more on tax.

The Commission this week published its White Paper on the future of Europe. The document presents five scenarios for the potential state of the Union by 2025.

One of these scenarios is, "where certain member states want to do more in common, one or several 'coalitions of the willing' [would] emerge to work together in specific policy areas."

Under this scenario, a group of countries would choose to work more closely together on taxation and social matters.

The White Paper explained: "Greater harmonization of tax rules and rates reduces compliance costs and limits tax evasion. Agreed social standards improve certainty for businesses and contribute to improved working conditions. Industrial cooperation is strengthened in a number of cutting edge technologies, products, and services, and rules on their usage are developed collectively."

A separate scenario, entitled "Doing Much More Together," entails "much greater cooperation on fiscal, social, and taxation matters, as well as European supervision of financial services."

TAGS: compliance | tax | business | European Commission | value added tax (VAT) | financial services | corporation tax | tax reform | standards | services | Europe

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