20 February 2015
The European Commission has actually picked a list of tax reform priorities to lay “the structure for a fairer and more transparent technique to taxation in EU,” concentrating on the taxation of business.
At a just recently concluded orientation dispute on the issue, the European Commissioners from the 28 member states agreed that the Commission’s work should concentrate on guaranteeing that business are taxed where financial activities are carried out. They concurred guidelines must be strengthened to make sure that companies can not prevent paying a “fair share,” and this will require enhanced transparency.
The Commission stated it will provide a Tax Openness Plan in March 2015, and, quickly afterwards, a 2nd plan of steps will be revealed that will handle corporate tax, taking into account the work of the Organisation for Economic Co-operation and Advancement on base erosion and profit shifting (BEPS).
Pierre Moscovici, EU Commissioner for Economic and Financial Affairs, Tax, and Customs, stated: “It is time for a new period of openness between tax administrations, a new age of uniformity in between federal governments to make sure reasonable taxation for all. The Commission is completely committed to securing the highest level of tax openness in Europe.”
“A prosperous Europe requires reasonable, transparent, and foreseeable tax systems for companies to invest and for customers to restore self-confidence. As part of our work for a much deeper and fairer internal market, we want to develop greater tax openness and guarantee fairer tax competition, within the EU and internationally. It is not acceptable that tax authorities have to depend on leaks before they implement tax guidelines,” stated Valdis Dombrovskis, EU Commissioner for the Euro and Social Discussion.