EU tax harmonisation
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The focus on tax harmonisation remains at the centre of the European Commission’s plans to promote economic growth and prevent tax avoidance by those operating in the EU. In October 2016 the Commission announced plans to overhaul the way in which companiesEU tax harmonisation
The focus on tax harmonisation remains at the centre of the European Commission’s plans to promote economic growth and prevent tax avoidance by those operating in the EU. In October 2016 the Commission announced plans to overhaul the way in which companies are taxed in the Single Market “delivering a growth-friendly and fair corporate tax system”. Some smaller EU member states have made tax competitiveness their critical success factor for strong economic growth. Ireland, Luxembourg, the Netherlands and Malta see a threat in the revived plans for the introduction of the Common Consolidated Corporate Tax Base (CCCTB). A recent study by the UK-based think-tank Tax Justice Network found that Malta will see its income tax arrangements deriving from subsidiaries or multinationals registered in Malta decline by more than half, and in some cases slashed by two thirds. The extent of the adverse effects of the introduction of CCCTB and other tax harmonisation policies is staggering. Maltese politicians serving locally and in the European Parliament are adamant in opposing the proposed Brussels meddling with taxation which has often been called “an essential pillar of a state’s... Read more