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EU Commissioners Push For Corporate Tax Fairness

by Ulrika Lomas,, Brussels

28 May 2015

The College of Commissioners has agreed that a new European Union approach to corporate tax is needed to address tax abuse, ensure sustainable revenues, and foster a better business environment.

The College held an orientation debate on May 27. The discussion will feed into the publication of an Action Plan next month. The Plan will include a strategy to re-launch plans for an EU-wide Common Consolidated Corporate Tax Base (CCCTB), implement the anti-avoidance measures being developed by the Organisation for Economic Cooperation and Development (OECD), and strengthen tax transparency.

Tax Commissioner Pierre Moscovici said: "Our current approach to corporate taxation no longer fits today's reality. We are using outdated tools and unilateral measures to respond to the challenges of a digitalized, globalized economy. For fairer taxation and less fragmentation in the single market, we need to fundamentally review our corporate tax framework in the EU. Big, small, and medium sized companies should be able to benefit from the internal market on an equal footing."

Vice-President Valdis Dombrovskis, responsible for the Euro and Social Dialogue, added: "We want corporate taxation to be fair and growth-friendly. Every company, big or small, must pay its share of tax at the place where it makes its profits. Corporate taxation is a member state responsibility, but the EU must set a clear and renewed framework for fair and competitive corporate taxation."

The College's initiative follows the Commission's proposal in March of a Tax Transparency Package, designed to create more openness and cooperation between member states on corporate tax issues. It included plans for the automatic exchange of information on tax rulings, and foreshadowed the publication of a detailed Action Plan on corporate tax.

TAGS: compliance | tax | business | tax compliance | tax avoidance | Organisation for Economic Co-operation and Development (OECD) | corporation tax | tax planning | tax reform | European Union (EU) | Europe

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