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EU TAXE Committee Given Another Six Months

by Ulrika Lomas,, Brussels

08 December 2015

The European Parliament has decided that the work of the Special Committee on Tax Rulings (TAXE Committee) should be continued by a new, temporary committee under a new mandate for six months, starting on December 2, 2015.

This was decided by the Conference of Presidents on December 2 and endorsed by a European Parliament plenary by 561 votes to 69, with five abstentions.

The new committee will focus on harmful corporate tax regimes and practices at European and international level. Among other tasks, the new committee will look into the work of the Commission in the areas of state aid and taxation, examine member states' compliance with tax legislation, and will identify aggressive tax planning techniques. The new committee will look closely at how EU member states and institutions follow up on the TAXE Committee's recommendations.

The TAXE Committee's final report was approved by a European Parliament plenary on November 25, 2015. In the resolution which went with the report, the European Parliament set out its ideas on how to make corporate taxes fairer across Europe and urged EU member states to agree on mandatory country-by-country reporting by multinational corporations of profits and taxes, a common consolidated corporate tax base, common definitions for tax terms, and more transparency and accountability with regards to their national tax rulings for companies.

The TAXE Committee was established in February 2015 in the wake of the leak of confidential tax rulings provided by EU member states. The TAXE Committee's probe, sanctioned by members of the European Parliament, is taking place alongside the Commission's investigations into potential illegitimate state aid granted as part of those rulings, and of member states' tax ruling practices in general.

TAGS: compliance | tax | investment | business | European Commission | tax compliance | tax avoidance | law | enforcement | agreements | multinationals | legislation | tax planning | transfer pricing | advance pricing agreement (APA) | tax reform | regulation | trade | European Union (EU) | Europe | Tax | BEPS

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