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ITI Calls For United Front Against EU Tax Harmonisation,
by Jason Gorringe, Tax-News.com, London
Friday, June 01, 2007
The Irish Taxation Institute (ITI) has called for political, business and representative
groups to unite against moves to harmonise European taxes.
ITI made the call on a day when the German Presidency of the EU hosted a meeting
in Berlin on the subject of the Common Consolidated Corporate Tax Base or CCCTB.
Commenting on the issue, Mark Redmond, CEO of the ITI said moves towards a
common means of paying corporate taxes in the EU is bad for Ireland and bad
for Europe.
“The more you harmonise taxes, the more tax rates will rise, the more
compliance costs will rise and the more unemployment will rise. The proposals
put forward to date remain vague. They fail to come clean on the burden they
will bring on both domestic and international businesses and they fail to address
the widely held belief that it will mean higher corporate tax rates by the backdoor,"
he warned.
Redmond added: “Taxation policy has been central to the Irish success
story and attempts to wrestle control on tax policy away from individual Member
States should be fiercely resisted. A common tax rate is bad for Ireland and
bad for Europe. To grow and sustain our economy we have got to stay competitive
and one key way of doing so is through sound tax policies. If tax costs start
to creep upward in Europe, the instinct of multi-nationals and other key employers
will be to look to the Far East."
Redmond said the proposal to widen CCCTB to the financial services sector was
worrying. In 2006, IFSC companies alone contributed EUR1.1 billion (US$1.5 billion)
in tax revenues to the Irish exchequer.
Redmond also said the proposal to establish an overall EU Revenue Authority
would mean another costly bureaucratic layer for business to grapple with. He
said that a single Revenue authority would also serve to undermine the positive
role played by the Irish Revenue.
Following a first progress report in 2006, the European Commission last month
adopted a second communication on the progress towards a Common Consolidated
Corporate Tax Base. (CCCTB).
The CCCTB would enable companies to follow the same rules for calculating the
tax base for all their EU-wide activities, rather than in accordance with the
existing 27 systems, thereby, simplifying procedures, improving efficiency and
reducing compliance costs, the EC has argued.
However, despite assurances that no plans are in the pipeline for harmonizing
tax rates, several member states have raised objections to the possibility of
any kind of harmonization of any elements of EU member state tax regimes.
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