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Firms In High-Tax EU States Support Single EU-Wide Rate

by Ulrika Lomas, Tax-News.com, Brussels

29 May 2017


Most European businesses (53 percent) support the creation of a single EU-wide corporate tax rate, according to a survey by Grant Thornton.

Support is particularly strong among business leaders in Italy (70 percent), Spain (66 percent), France (64 percent), and Greece (62 percent), where rates are higher than the European average, despite recent cuts in Italy, France, and Germany.

According to the survey, just six percent of businesses in Ireland, 10 percent in Estonia, 28 percent in the Netherlands, and 30 percent in Lithuania supported the idea of an EU-wide regime.

"Corporate tax cuts are politically in-fashion as a route to reviving demand and stimulating investment," Francesca Lagerberg, Global Leader for Tax Services at Grant Thornton, said. "Lowering the rate to 15 percent is one of [US] President Trump's big economic promises, so it comes as little surprise to learn that, in eurozone countries where rates are low, most businesses do not welcome the prospect of [corporate tax rates] being raised [above this] to meet an EU-wide standard." However, she noted: "Our data tells us that business leaders want a more even playing field in future."

TAGS: tax | business | Ireland | Netherlands | corporation tax | Estonia | United Kingdom | tax rates | France | Germany | Greece | Italy | Spain | European Union (EU) | Lithuania | Europe

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