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France, Germany Cooperate On Key Tax Projects

by Ulrika Lomas,, Brussels

24 February 2014

France and Germany have jointly declared that they intend to join forces to champion key tax agendas in Europe and internationally.

A working group is to be set up tasked with assessing the feasibility of aligning the structure of corporate taxation in Germany and France. At first the group will consider how to harmonize regulations on incoming and outgoing cross-border investments, and later consider how to harmonize France and Germany's corporate tax bases. Achieving a common corporate tax base, they say, will support negotiations in the EU for a Common Consolidated Corporate Tax Base (CCCTB).

Germany and France are to adopt, as quickly as possible, the new global standard on automatic information exchange developed by the OECD and G20, and push for its adoption both in Europe and internationally. Both parties agree that a consensus on the revised European Union Savings Tax Directive must be achieved by March.

They agreed to collaborate towards concluding EU-level work on combating abuse and fraud, in particular the adoption of the Money Laundering Directive, the Parent-Subsidiary Directive, and the Interest and Royalties Directive.

In a similar vein, they jointly voiced support for the Organization for Economic Cooperation and Development's (OECD's) Base Erosion and Profit Shifting (BEPS) work, and the EU expert group's review of taxation of the digital economy, hoping soon that companies will soon make a "fair contribution" to the European market.

Finally, France and Germany aim to reach a consensus on plans for an EU financial transactions tax (FTT) with eleven participating member states, if possible ahead of the European Parliament elections. They hope to reach an agreement also on the allocation of FTT revenue.

TAGS: compliance | tax | investment | European Commission | tax compliance | tax avoidance | Organisation for Economic Co-operation and Development (OECD) | corporation tax | transfer pricing | France | Germany | tax breaks | G20 | standards | regulation | individual income tax | European Union (EU) | Europe | Tax | Tax Evasion

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