According to reports in the European media last week, the Dutch government, which is set to assume the presidency of the European Union in a month, supports calls by France and Germany for the establishment of a minimum corporate tax level in the EU.
In a letter to the EC dated May 26, German Finance Minister, Hans Eichel and his French counterpart, Nicolas Sarkozy explained that: "The German and French governments believe it is urgent to strengthen at European level a fair framework for competition for our companies within the internal market. We are therefore proposing that the Commission make a concrete proposal as soon as possible for a single corporate tax base, that if possible also includes a minimum tax rate."
According to an EU Observer report, both Dutch Finance Minister Gerrit Zalm and State Secretary for Finance, Joop Wijn support the Franco-German call for a minimum level in order to prevent new EU member states with lower corporate taxes from gaining an 'unfair' competitive advantage over the generally higher taxing older members of the Union.
However, an unnamed Dutch spokesman revealed to the news service that the government would not be in favour of imposing sanctions on those countries which chose to breach the minimum corporate tax level.
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