The EU Parliament passed a resolution relating to recommendations that profits are to be taxed in the EU Member State where the profits are generated.
A November 2015 report, issued by the Special Committee on Tax Rulings and Other Measures Similar in Nature or Effect (the “TAXE Committee”), recommends the introduction of country-by-country reporting for multinational corporations and to make certain information public, such as:
The recommendations further advocate harmonization of certain basic notions for determining corporate tax, such as economic substance and anti-abuse rules. In the view of the TAXE Committee, the best way to address base erosion and harmful tax competition and to solve the issue regarding transfer pricing would be the introduction of a compulsory EU-wide “common consolidated corporate tax base” (CCCTB) as soon as possible.
Read a December 2015 report [PDF 307 KB] prepared by KPMG’s EU Tax Centre: EU Parliament votes on the TAXE Committee’s report
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