BRUSSELS: European Commission has decided upon a list of tax reform priorities to lay “the foundation for a fairer and more transparent approach to taxation in EU,” focusing on the taxation of companies.
At a recently concluded orientation debate on the issue, the European Commissioners from the 28 member states agreed that the Commission’s work should focus on ensuring that companies are taxed where economic activities are performed. They agreed rules should be strengthened to ensure that companies cannot avoid paying a “fair share,” and this will require improved transparency.
The Commission said it will present a Tax Transparency Package in March 2015, and, shortly thereafter, a second package of measures will be announced that will deal with corporate taxation, taking into account the work of the Organisation for Economic Co-operation and Development on base erosion and profit shifting (BEPS).
