EU: Plan to curb corporate tax avoidance

EU: Plan to curb corporate tax avoidance

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.

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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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