CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Moscovici: CCCTB Is A Tool Against Tax Avoidance

Moscovici: CCCTB Is A Tool Against Tax Avoidance

by Ulrika Lomas, Tax-news.com, Brussels

30 June 2017


EU Tax Commissioner Pierre Moscovici has described the proposed common consolidated corporation tax base as a "decisive tool against corporate tax avoidance."

Moscovici made the comment during a speech on tax fairness. He said the CCCTB will provide companies with a single rulebook for calculating their taxable profit throughout the EU.

According to Moscovici, "Large multinationals will no longer be able to exploit mismatches between national systems, benefit from preferential tax regimes and play with transfer pricing rules to reduce their own tax liability."

Moscovici said that he did not think the EU could set a minimum corporate tax rate, as "the rule of unanimity forbids it." However, he stressed that there must be a level playing field between companies and taxpayers.

The Commission intends first to introduce harmonized rules on the calculation of a company's tax base in all EU member states. After that, tax revenues would be collected and distributed among member states under a formulary apportionment approach, whereby revenues would be allocated based on factors such as turnover, sales, and employment.

TAGS: tax | European Commission | tax avoidance | corporation tax | multinationals | transfer pricing | tax rates | tax reform | European Union (EU) | Europe

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 

Log into Tax-News+
Not registered yet? Find out about our daily news alert service »

 Email: 
 Password: 

Login »

Forgotten your password?







Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »