The European Commission today presented an action plan that would reform corporate taxation in the EU, and that would set forth a series of initiatives to address tax avoidance, secure sustainable revenues, and strengthen the EU single market for businesses.
The EC action plan is intended to improve the corporate tax environment in the EU, making it fairer, more efficient and more growth-friendly.
CCCTB and other actions
The key actions include a strategy to re-launch the Common Consolidated Corporate Tax Base (CCCTB) and a framework for effective taxation where profits are generated. The EC also published a first pan-EU list of third-country non-cooperative tax jurisdictions and is launching a public consultation to assess whether companies must publicly disclose certain tax information.
According to a related OECD release, the EU measures would be developed to complement the base erosion and profit shifting (BEPS) project of the OECD.
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